Market Wrap: PPACA Passes; Ford Gives Grim View; Nike Defeated, RIM Slammed on EPS

Market wrap-up for June 28th

End of the Day: Dow Jones Industrial Average down 24.8 to 12,602.26; S&P 500 down 2.8 to 1,329.04; Nasdaq down 25.8 to 2,849.49

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

• All for one and one for all!: Earlier in the session, the Supreme Court found President Obama's the health care mandate (The Patient Protection and Affordable Care Act (PPACA)) constitutional. Following the call, which was a 5-4 decision, almost every health care stock went nuts. For a quick rundown of events, click here.
  
  
• Automaker issues warning: Ford (NYSE: F) says international losses would triple in the second quarter. Specifically, European conditions have been deteriorating and competition and pricing pressures are hampering South American sales.
  
  Shares are down about 3.7 percent in the late session.
  
  
• Stimulus accord reached: According to European Union President Herman Van Rompuy, EU leaders have agreed to €120 billion of spending measures in order to stimulate job and economic growth in the region. The number is a little shy of the €130 billion markets were expecting.
  
  
• Bleakberry: Research In Motion's (Nasdaq: RIMM) hit Thursday as investors' worst fears seemed to have come to true. Net loss was 37 cents per share on revs of $2.81 billion, both drastically missing views. RIM also announced plans for 5,000 job cuts as well as a delay to its BlackBerry 10 mobile OS. For more color on the report, click here.
  
  Shares are off about 18 percent in late trading.
  
  
• Potential buying opportunity here: Nike (NYSE: NKE) investors are "Just Exitin' It" following fourth-quarter numbers issues Thursday. EPS missed by 20 cents while revs were slightly light. In addition, futures orders were up 13 percent excluding currency, about 3 points lower than views. For more, click here.
  
  
• Italy and Spain will be facing off in the Euro 2012 final. Sunday, 19:45 BST.

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