Market Wrap: Then There Were Three; Is Dunn Hurd?; Fighting (Mobile Phone) Crime...Together!; Yahoo!'s New Plan

Market wrap-up for April 10th

End of the Day: Dow Jones down 213.7 to 12,715.93; Nasdaq down 55.9 to 2,991.22; S&P 500 down 23.6 to 1,358.59

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

• Pure In-Santorum!: GOP Presidential candidate Rick Santorum said he was suspending the race for President today. Santorum said he significantly lagged Romney in the nominating contest, meaning a GOP bid was becoming increasingly unlikely.
  
  Others left in the GOP race include Mitt Romney, Newt Gingrich, and Ron Paul.
  
  
• Hmm...personal conduct issues, you say? Another Mark Hurd?: Best Buy (NYSE: BBY) CEO Brian Dunn resigned his position. Though initial reports have Best Buy saying there were no disagreements between Dunn and the company, the WSJ has since said there will be a probe into Dunn's personal conduct.
  
  Best Buy issued a statement: "Certain issues were brought to the board's attention regarding Mr. Dunn's personal conduct, unrelated to the company's operations or financial controls, and an audit committee investigation was initiated. Prior to the completion of the investigation, Mr. Dunn chose to resign."
  
  
• More complex than switching a SIM card, apparently: Verizon (NYSE: VZ), AT&T (NYSE: T), Sprint (NYSE: S), and others, have banded together with the U.S. government to build a database which tracks stolen cellphones. The wireless companies will build the network, which will track data coming off of those phones which were stolen.
  
  
• Woo-hoo!: Yahoo! (Nasdaq: YHOO) CEO Scott Thompson presented a new format for the one-time search giant. Thompson said Yahoo! will be split into three groups: Consumer, Regions, and Technology.
  
  Thompson also said Yahoo! will renew its focus on e-Commerce and make better efforts to go beyond the traditional e-Commerce boundaries.
  
  
• Las Vegas is like the tortoise of the classic Aesop fable about the great Gambling Revenue Race: According to new data from the Nevada Gaming Control Board, gambling sales on the Las Vegas Strip rose 3.31 percent to $530.7 million during February and statewide gambling win was up 5.72 percent in February. Amid the positive news, casino stocks largely finished lower on overall market pressure as well as the fact that most derive the lions share of their top-line from Macau.

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