NASDAQ on Tuesday announced that it will adjust the weighing of several companies in the NASDAQ-100 index to better reflect their market capitalizations. The NASDAQ-100 index is comprised of the 100 biggest non-financial stocks on the NASDAQ exchange. The adjustment, which will take place on May 2nd, is the first of its kind since 1998. Apple will take the biggest hit as its weighting will be adjusted down from 20.46% of the the index to 12.33%. The Cupertino-based company’s representation on the NASD...

Analysts had a field day on Friday after RIM released its less than stellar Q2 earnings on Thursday. When addressing its future prospects, RIM warned that its gross margins in the Q3 will drop another three percentage points to 47% and that a further decline is likely into 2010. Ouch! In a letter sent to clients, Charles Wolf of Needham & Co had the most scathing assessment of RIM:In their conference call, management dismissed the notion that new competitors, most notably Apple’s iPhone 3G and new smart...