At The Motley Fool, we know our readers like to be informed. We have scouted out today's most relevant news items and brought them to you all on one page. We hope you find this midday edition informative and useful.
In an uncharacteristic move, Apple
Apple promoted its new operating system, iOS 5 -- which has new abilities to link the company's devices together -- new messaging features, and Siri, a voice command directed personal assistant. Siri is Apple's biggest selling point for the new phone, allowing the device to use voice commands to carry out a variety of tasks like reading text messages aloud, responding back, and even checking the weather. The phone will be sold starting Oct. 14 with contracts from AT&T, Verizon, and the new addition, Sprint. The device will start at $199 for a 16GB model with a two-year contract. The iPhone 4 will still be for sale but for $99 for a 8GB version, and the third generation of iPhones will be given out for free with a two-year contract from AT&T. Read more at The Wall Street Journal or read the Fool's roundtable.
Morgan Stanley's rumors
Morgan Stanley has been fighting against rumors concerning the exposure of its assets to the European debt crisis. The rumors have created some damage, pulling down the stock price nearly 30% over the last month. They have been mostly spread through market whispers and anonymous blogs, but the bank has been reassuring its largest stakeholders that its risk is not more than that of any other bank today.
Morgan Stanley made some headway in its rumor-fighting campaign after the Mitsubishi UFJ Financial Group, which holds 22% of the bank, announced it fully supports the company. The endorsement helped on Tuesday, pushing the bank's stock up by 12.4%. All banks were helped by word that European officials may recapitalize failing banks. Nonetheless, the banking market has been a bloodbath, with Morgan Stanley down 48.5%, Goldman Sachs
Costco cranks up price
In a long-awaited move, wholesale retailer Costco
RIM's lack of trust
With its stock down by 60% for the year, Research In Motion
So there you have it, the top financial stories for this afternoon. If you are interested in getting all the news and commentary on these stocks sign up to My Watchlist here -- it's free!
Michelle Zayed doesn't own any stocks mentioned. The Motley Fool owns shares of Research In Motion, Google, Costco Wholesale, Bank of America, and Apple. Motley Fool newsletter serviceshave recommended buying shares of Google, Costco Wholesale, and Apple. Motley Fool newsletter serviceshave recommended creating a bull call spread position in Apple. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insightsmakes us better investors. The Motley Fool has a disclosure policy.