Market Wrap: Google's Bigger Nexus; Barclays Gets Record Fine; Another Madoff Down; Analysts Rate Facebook

Market wrap-up for June 27th

End of the Day: Dow Jones up 92.3 to 12,627.01; S&P 500 up 11.9 to 1,331.85; Nasdaq up 21.3 to 2,875.32

The following is a brief summary of events moving markets today:

• No Ferrari then this year, eh, boys?: Barclays (NYSE: BCS) reported it will pay about £290 million ($453.6 million) to settle a Libor manipulation investigation with U.S. and U.K. regulators.
  
  Specifically, Barclays settled with the U.K.'s Financial Services Authority, the U.S. Commodity Futures Trading Commission and the U.S. Department of Justice's fraud section.
  
  In a statement, the bank said CEO Robert Diamond and three other top execs would forgo annual bonuses for 2012.
  
  Of note, the $200 million fine from the CTFC was the largest levied by the regulator in its existence.
  
  Barclays management, in 2007, was said to submit artificially low bids for Libor rates as pressure began to mount on derivative trading losses. In addition, traders in New York, London, and Tokyo tried to manipulate Libor in order to help out trading positions. Requests were made to bank's rate submitters almost daily for a few years starting in mid-2005 through at least the end of 2007.
  
  
• Must be the Nexus of the tablets!: Google (Nasdaq: GOOG) unveiled its next mobile device today, the Nexus 7 tablet. The Nexus 7 is a smaller tablet, like the Amazon (Nasdaq: AMZN) Kindle Fire, made more for media and communications than conquering the world. Though, in many ways, those features are one and the same.
  
  Though initial views had the device competing with Apple (Nasdaq: AAPL) or Microsoft (Nasdaq: MSFT) at $199, it looks like Amazon might have the most competition (and Barnes & Noble (NYSE: BKS), too).
  
  Google also debuted Nexus Q which is an amazing sphere with glowing blue light circumnavigating its middle. The ball will act like Apple TV and a Roku unit, for the most part, being able to transfer media from Google Play and YouTube to your TV, Android device, and so on. It seems like a cool concept, but at $299, many might just stick with other options.
  
  
• Ready. Set. Rate!: Facebook (Nasdaq: FB) got a mess of analyst coverage Wednesday following the expiration of its 40-day post-IPO quiet period. Overall, sentiment was positive, 17 buy ratings, 14 Neutral ratings and two Sell ratings issued on the day. For more color, click here.
  
  Despite the attention, Facebook ended up 2.6 percent lower on the session.
  
  
• Can't trade your way out of this one: Hedge fund man Philip Falcone of Harbinger Capital Partners is being sued by the U.S. SEC for, among other things, band price manipulation, client fund misappropriation, and misleading investors.
  
  One point showed Falcone took a $113.2 million loan from one of his funds in 2009, while not allowing investors to withdraw money from the fund, in order to pay personal taxes without properly disclosing the move. Falcone's lawyer, for his part, has said Falcome got the best legal advice in advance of the move and his position will be vigorously defended in court.
  
  
• That's-a lotta dollars: Peter Madoff, brother of Bernie Madoff and CCO of Bernard L Madoff Investment Securities LLC, said he'll plead guilty to two charges of fraud. Madoff will admit to one count of conspiracy to commit securities fraud as well as one count of falsifying records.
  
  The best part, as several news sources have cited, is that Madoff will forfeit $143.1 billion. Billion.

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