Main market news here.Very light news day ahead of the July 4 holiday.
As some techies rushed to dissect their new Apple Inc. (NASDAQ: AAPL) iPhones, dismantling the devices to find out the secrets, it seems that tech and telecom analysts estimated sales of 500,000 to 700,000 units by Sunday.
Caterpillar Inc. (NYSE: CAT) was downgraded to Reduce from Neutral at UBS. UBS also cut the target price to $70 from $78. UBS cited decelerating revenues in its core businesses as well as competitive issues.
Google Inc. (NASDAQ: GOOG) has acquired GrandCentral Communications, a start-up that lets users manage their existing phones and voice mailboxes over the Web as if they were a single account, thus letting customers having only one phone number. While financial terms were not disclosed, here's BloggingStocks's Douglas McIntyre take on this.
TheStreet.com suggests that Dell Inc. (NASDAQ: DELL), a company that has never been too keen on mergers and acquisitions, should go shopping as this may be the only thing that could revive it.
Closing Bell: When We All Love the PIIGS (NBG, SQNM, PG, ERTS, KO)
Serious Money: Cheapest Stocks List Shrinks from 26 to 21
Chasing Value: Hasbro Earnings Makes My Point
