A couple of days ago, Connie Madon reported here that Verizon (VZ) had finally landed Apple's (APPL) iPhone 4. Today the communications firm started to introduce details about the release. The first question to answer is when the iPhone will be released - which is February 10 according to Verizon's Internet site. MarketWatch reported that the iPhone 4 will be available for pre-order on February 3.

The popular smartphone will cost $199 for the 16GB version and $99 for the 32GB version. These are the same price points for the device on the AT&T (T) network. One difference between the carrier's versions is that the Verizon version will also work as a wi-fi hotspot (with credit to the Engadget blog's live coverage of the event). This mobile hotspot will be able to support up to five different devices.

It seems excitement about Apple's (AAPL) iPhone is truly global, as demand for iPhone 4 handsets has outstripped supply, according to China Unicom (CHU). Sales of the popular smartphone, which launched in China Saturday, came at a faster pace than sales of previous versions.

More than 1,000 people waited, some for two days, outside the new Apple Store that opened in Xidan Joy City shopping mall on Saturday to get their hands on the new toy.

When Apple Inc. (AAPL) released its newest generation iPhone, the iPhone 4, it was received just as well as all the previous models. People waited in lines for hours, and those who were shut out on the first day had weeks of waiting to get their hands on the new precious iPhone.

Unfortunately users started to complain about the phone's reception which led Apple to launch a "free bumper case" program aimed at correcting the problem. The free bumper cases did appear to correct the problem, but now Apple has now decided to discontinue the program.

Since hitting a high of $279.01 on June 21, Apple shares have dropped over 7.7% to close Thursday at $251.45. This morning, ahead of its iPhone 4 press conference, Apple shares fell 0.7% by noon trading. The iPhone 4, which was to be yet another smashing success has become a somewhat sore issue. While at first sales of the new phone once again blew past expectations, reports of bad reception and dropped calls immediately tarnished the new must-have gadget.

But "antennagate," as it's been dubbed, just began, especially with Apple's response to consumers: avoid gripping the phone in the lower-left corner. Consumer Reports then said it can't recommend the iPhone 4 after tests by its engineers confirmed that the device does indeed have reception problems. And Bloomberg reported that a a senior antenna engineer named Ruben Caballero personally raised concerns about the design to Jobs.

So Apple then announced it will hold a press conference at 10 AM Pacific time on Friday. That's in two hours. What to expect?

There is quite a bit of Internet chatter about Apple's (AAPL) new iPhone 4. Unfortunately for the tech company, a good deal of it is negative. There is a problem with reception for the iPhone, a problem that stems from touching "a spot" on the lower left side of the phone. This problem caused Consumer Reports to say that it "can't recommend the iPhone 4." On July 2, Apple tried to explain that the problem was not the antenna, but that it was a calculation mistake that makes it appear that there were two more bars of reception -- seriously. Apple did offer to fix the problem with a free software update (available in a "few weeks") for the iPhone 4, 3, and 3GS.

Apple's (AAPL) iPhone 4 must be the biggest tech event ever. And with tomorrow's news conference, the buzz has reached fever pitch.

I would certainly not want to be a senior executive at Apple right now. Steve Jobs is notorious for being extremely tough. Hey, there are stories where he has fired people in elevators, right?

Today was one of those days where the news was tied to more hope and a decent start to earnings season than over any great breaking global news. A barely-decent 10-Year Treasury auction was not showing anything rotten, and it seems that the corporate credit markets are starting to open back up. News on deficits being another $1 trillion held nothing back for stock gains. Can you believe it, six straight days of gains in stocks? Cramer coming back after a holiday and saying that the bottom of the market has been seen for the year may have also gotten some comfort back in the game from retail investors.

Here were today's unofficial closing bell levels:

Dow 10,363.02 +146.75 (1.44%)
S&P 500 1,095.28 +16.53 (1.53%)
Nasdaq 2,242.03 +43.67 (1.99%)

Top Analyst Calls

It seems that nothing is stopping Apple, Inc. (AAPL) from continuing to produce good numbers. In May of 2010, the tech giant increased its sales of Mac computers 8% from April and 35% year over year, according to NPD.

Further NPD findings show that the Mac has performed even better in June than in May over the last three years. This trend should not stop this year, as June will only be the third month of the new MacBook Pro's availability and seasonal education spending unlikely to falter.

The mainstream media is overflowing with hyperventilating bears preaching about a depression. All fear-mongering aside, we see two very positive developments in the U.S. economy: retail and corporate spending.

1. Retail Spending

The International Council of Shopping Centers has announced that retail sales expanded at the highest pace since September 2006. Luxury retailers posted an eye-popping 8% rise in sales. Seems like consumption is our culture. Some people think the U.S. consumer has changed. Personally, I would never bet against the DNA of a tribe ... and ours is shopping. As my brother Derek said, "In the Great Depression we had bread lines. Now, there are Apple (AAPL) iPhone 4 lines." That is a mind-blowing distinction.

Microsoft (MSFT) closed at $25. MSFT July put option implied volatility is at 28, October is at 32, above its 26-week average of 27, according to Track Data, suggesting larger price movement.

Apple (AAPL) is recently up 86 cents to $269.86 in pre-open trading on the iPhone 4 launch. AAPL July put option implied volatility is at 37, January is at 42, versus its 26-week average of 37, according to Track Data, suggesting non-directional price movement.

Options Update is by Stock Specialist Paul Foster of theflyonthewall.com.

Apple, Inc. (AAPL) needs to send personalized holiday cards to all of its customers to thank them for their unwavering and fierce loyalty. Apple-philes are a special breed of fanatic, and they are always in search of the next innovation. Witness the initial iPad sales, which surpassed even Apple's optimistic expectations. And witness early pre-orders of the iPhone 4, debuting in the U.S. on June 24.

First, anxious shoppers crashed AT&T, Inc.'s (T) shopping server in the wee hours of Wednesday morning. AT&T has now suspended advance orders indefinitely. And still, the number of pre-orders for the iPhone 4 were 10 times higher than orders for the 3GS last year. If you weren't one of the lucky ones to order through Apple or AT&T while they still had existing inventory, you'll be waiting until the next shipment, expected to be before July 2.