• Apple (NASDAQ:AAPL) shares shed 1.2% on rumors that the introduction of its touchscreen “iPad” netbook may be put off from a September event. However, reports suggest China’s Unicom is expected to announce a deal to start selling the iPhone in China as soon as Friday

• AIG (NYSE:AIG) shares jumped 11% yesterday. In an interview, new CEO Benmosche calmed fears of a fire sale of the firm’s assets, instead pointing to a measured approach to retaining the company’s diversified base, noting that in a year the company will be said to be performing well

• Microsoft (NASDAQ:MSFT) announced a $71 cut on its highest-priced Xbox 360 in Europe and US markets after Sony (NYSE:SNE) cut price of its PlayStation 3 last week

• General Electric (NYSE:GE) is reportedly seeking bids for its security business, with interest said to be forthcoming from United Technologies (NYSE:UTX) and Tyco (NYSE:TYC). The firm hopes for bids of about $2 billion

• Guess? (NYSE:GES) beat second quarter estimates with earnings of 64 cents a share, ahead of Zacks expectations of 44 cents a share, on revenues of $522.4 million, beating
estimates of $480 million.  The company raised its quarterly dividend 25% to $0.125; guidance for the current quarter was set at 46 cents to 49 cents per share on sales of $465 million to $485 million

• The US Navy awarded a $2.4 billion contract to Northrop Grumman (NYSE:NOC) for work on nuclear-powered aircraft carrier, USS Theodore Roosevelt

• Toll Brothers (NYSE:TOL) reported a third quarter loss of $2.93 a share, worse than the Zacks projections of a $1.40 per share loss, on revenues of $461.38 million, compared with estimates of $414 million. The firms expects lower fourth quarter sales

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