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Update at 2:29 p.m. PST, with closing stock price.

Shares of Apple took a hit Thursday at the market open, falling 5.7 percent as investors demonstrated their anxiety about the company following the news that CEO Steve Jobs is taking a medical leave.

Apple opened at $80.50 a share in morning trading, down from its close of $85.33 a share Wednesday. But by the end of the regular trading session, Apple narrowed the gap, with its shares closing down 2.29 percent to $83.38 a share.

While a number of Wall Street analysts predicted … Read more

I spend a considerable amount of time perusing financial sites for data that impacts a respective company's financial statements. Because of that, I've developed a liking for certain sites, and a severe distaste for others that have no business providing information to anyone.

But it's the great that I'm highlighting today. And in the following list of services, you'll find some obvious choices and hopefully some new services you may have never seen.

Emerginvest

One of the main issues facing sites like Bloomberg or MarketWatch is that most of their focus is placed squarely on … Read more

I have never been a big fan of fake stock markets. I don't play fantasy sports, either. I feel that if you're going to invest, nothing replaces skin in the game. A "market" with play money can't, I have always thought, provide real-world value.

But that's a superstitious conceit. Some stock games might be able to make you real money. Take KaChing, a new stock market community site officially launching Tuesday. Marc Andreessen just announced that's he's an investor in this company.

In KaChing, as in other stock game sites, users can … Read more

The world of finance is sober, serious business--more so if your stocks or industry is struggling through a waning economy. Financial headlines, a ticker finder, and a fleshed-out index of world markets add up to make Bloomberg's native application for the iPhone and iPod Touch the window into Wall Street. A dark application, Bloomberg contains a read-only newsfeed and statistics on various exchanges in global markets. Highs, lows, and a graph of yearlong performance are displayed for each exchange--further charts and tables are available for industry and stock movers.

To discover individual stock performance, users simply enter the company … Read more

Advanced Micro Devices will reduce its stake in the manufacturing operations it spun off in October, as it adjusts to repercussions of the financial crisis.

This follows a fourth-quarter warning earlier this month when the chipmaker revised its revenue estimate downward.

And like the shares of many companies, AMD's stock price has been in a free fall. Dropping from over $7 back in June to $2.10 on Monday.

Monday's action revolves around Abu Dhabi-based Mubadala Development and the Advanced Technology Investment Company (ATIC)--which Mubadala backs.

ATIC has equal voting rights with AMD in the newly formed … Read more

With the economy in continuing decline, keeping tight control over your money is no longer just for obsessives. These financial apps for Google Android help you count every penny.

Personal Budget Droid is a simple budget- and bills-tracker that lets you create multiple monthly budgets for groceries, housing costs, and so on. You enter every budget name and transaction by hand, but the app keeps a transaction history and calculates how much you have left for each category.

The more sophisticated FireWallet works with budgets inside various accounts and protects your information behind a four-digit pin you change from the … Read more

Shares of Dell and Qualcomm plunged by double digits Monday, as the Dow Jones Industrial Average went into a free-fall of nearly 700 points on news that the economy is officially in a recession.

The Dow closed down 679.95 points, or 7.7 percent, to end the day at 8,149.09, breaking a five-day run at posting gains.

Meanwhile, the tech-heavy Nasdaq fell further, declining 8.95 percent, or 137.50 points, to end at 1,398.07. And the CNET Tech Index dropped 7 percent to 1,014.20.

Despite reports that retailers fared better than expected … Read more

Red Hat has been taking a beating in the stock market recently, but in a recent research note leading analyst Mark Murphy of Piper Jaffray thinks this represents an exceptional opportunity to buy into a "deeply undervalued" company. More interestingly, Murphy finds significant cause for Red Hat optimism based on Oracle's failed attempt to undermine Red Hat with its Unbreakable Linux product.

If Red Hat's model were fragile, the thinking goes, surely a behemoth like Oracle could make a dent in Red Hat revenues? Oracle got into the Linux game two years ago, hoping to cannibalize Red Hat's business for itself.

As Murphy points out, however, Oracle has completely failed to hurt Red Hat, calling into question the belief that Red Hat's demise is just a fork away. Novell, too, despite starting to build a decent Linux business of its own, as The VAR Guy has noted, has completely failed to touch Red Hat's rising revenue. The reason? Red Hat remains the default choice for enterprises looking to move off expensive Unix to high-performance and low-cost Linux.

Murphy writes:

Oracle has failed in its attempt to enter the Linux market. Our recent survey of Oracle database customers reveals that only 1 out of 32 customers currently uses Oracle Unbreakable Linux. This one customer also commented that "support is terrible, it is difficult to get an answer to my problems, Oracle's agents never understand my company." The survey reflects a very low penetration rate in the 2-year period since Oracle unveiled Unbreakable Linux with much fanfare, including live penguins running around onstage with Larry Ellison. Resellers continue to characterize Unbreakable Linuxas a failure because Oracle ultimately cannot control the future direction of RedHat Enterprise Linux, upon which it is based.

While the Street has expected Unbreakable Linux to severely impact Red Hat, its failure ironically serves as a proof-point of the underlying defensibility of RedHat's business model. In fact, in the two years since Oracle introduced Unbreakable Linux, Red Hat's billings have grown at an average rate of 31%--representing clear market share gains.

When Red Hat's biggest rivals can't hurt it, surely this is cause for optimism, and not a market slide? It turns out that being the "source of code" is a great alternative to owning the source code, at least in Red Hat's case.

Red Hat has shown no signs of slowing, with its subscription model able to weather the current recession: even if it doesn't sell any new subscriptions, it can tread water and/or grow with its existing customer base, something that license-revenue driven companies simply can't afford to do.… Read more

OStatic reported on Wednesday that public open-source companies may be vulnerable as they watch their market capitalizations get flushed down the toilet. Unfortunately, it's not just Red Hat, Novell, and Sun that are getting pulverized by Wall Street. The entire market is in free-fall.

Is there a bottom in sight?

Novell and Sun are worth more dead than alive, with more cash on hand than their market capitalizations. It's not quite so bad for Microsoft and some other technology vendors: Adobe, for example, has an $11 billion market capitalization with $4 billion in total equity.

But that doesn'… Read more