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US stocks slump on weak economic data

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U.S. stocks slumped on Wednesday, marking the biggest decline since August, as weaker-than-expected reports on ADP private sector employment and ISM manufacturing raised concerns about the current economic soft patch.

With iCloud, Apple's iPhone pulls away from Android

Apple announced on Tuesday that it will roll out significant software upgrades at its developer conference next week, changes that some analysts believe will keep it ahead in the growing arms race against arch-rival Android from Google.
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Apple iCloud a 'very big deal'

Apple's Tuesday announcement outlined a number of talking points Steve Jobs is expected to tackle at WWDC next week whipping analysts into a frenzy over what is being seen as revolutionary upgrades.
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Mischief From Cheap Money - Shocking Charts

Three trillion dollars is a lot of cash to hoard up in barely 10 years. It's a lot of cash to unleash on the world's commodity markets, too. And peak oil or not, we monetary maniacs might just have a point. Real returns to cash do matter.

Unusual Mets lineup beats Pirates, 7-3

Daniel Murphy, Justin Turner, Dillon Gee and Ruben Tejada keyed the New York Mets' win over the Pittsburgh Pirates yesterday--and perhaps gave fans a glimpse of the future.
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Medco Health Lost FEP Contract, a Signal for More Aggressive Pricing?

FBR Capital Markets lowered its price target on shares of Medco Health Solutions Inc. (NYSE: MHS) by $4 to $71, while maintaining its outperform rating. The brokerage said it maintained its rating despite the recent announcement of Medco losing $3 billion of annual revenue from Federal Employees Program (FEP) contract going to competitor CVS Caremark Corp. (NYSE: CVS).

Aftermath Photos of Tornado Wreck in Joplin, Missouri

The number of missing people from a devastating tornado that hit Joplin, a city of 50,000 in southwestern Missouri, on May 22 reduced to 29, while Missouri officials continued the process of identifying the remains of bodies recovered.

Shahid Afridi quits international cricket

Shahid Afridi, 31, Pakistan’s captain at the 2011 world cup has said he will not play international cricket under the current Pakistan Cricket Board (PCB), BBC reported.

Researchers working on ‘digital ants’ to flush out virus in computer networks

Wake Forest University, North Carolina, professor of Computer Science Errin Fulp, and his team of scientists at Pacific Northwest National Laboratory (PNNL) in Richland, Washington, are developing an army of ‘digital ants’ which will be set loose into the power grid of a computer to discover viruses in the system, a report in the university website said.

Strauss-Kahn assembles crisis team to fight back

Faced with a legal and media onslaught, Dominique Strauss-Kahn is pulling together a crack team of investigators, former spies and media advisers to fight back against charges he sexually assaulted a hotel chambermaid.

Mobile Payment Systems Draw Interest from Banks, Retailers

Google took the wraps off of Google Wallet, its new mobile payment system, making the announcement on Thursday from the company's New York office. Mobile payment systems have drawn the interest of banks and retailers, and the industry is hoping consumers will adopt the systems as well.
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AT&T Renewal Concerns Present Buying Opportunity for Synchronoss

Wedbush Securities views recent weakness likely due to concerns and confusion over the AT&T (NYSE: T) renewal, as an opportunistic entry point in shares of Synchronoss Technologies, Inc. (NASDAQ: SNCR). The brokerage reiterated its outperform rating on shares of Synchronoss with a price target of $36.

RIM to Face 4 Challenges

Jefferies & Co. expects four potential negative events for Research In Motion Ltd. (NASDAQ: RIMM) shareholders in the next 6 to 12 months. The brokerage reiterated its underperform rating on shares of the BlackBerry maker with a price target of $35.

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