Money Minute: Apple Rumor Mill Heats Up as Meeting Convenes

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Two more restaurant chains are telling their customers to leave their guns at home.

Chili's (EAT) and Sonic (SONC) both issued statements asking people to "refrain" from bringing their guns into the restaurants. They join Starbucks (SBUX) and Chipotle Mexican Grill (CMG), which had previously established "no gun" policies.

The Apple rumor mill is heating up. The company will live-stream its presentation at a major developers conference in San Francisco. It's done that only a few times before, mainly for major announcements such as the iPad Air. What could it unveil? Guesses range from the long-awaited iWatch to a new iOS platform. As usual, Apple (AAPL) isn't saying anything.

The Motorola Mobility unit of Google (GOOG) is abandoning its effort to build smartphones in the U.S. Just a year after opening a factory in Fort Worth, Texas, the company says it will close the facility by the end of the year.

More than 12,000 Europeans asked Google to remove some online information within the first few hours after the company set up a site to collect those requests. This follows a recent ruling in Europe known as the "right to be forgotten." It gives citizens there the right to request that Google and other search engines remove links to items that are deemed irrelevant, inappropriate or outdated.

"Sell in May and go away." That's one of the most often repeated sayings on Wall Street. The idea is, the market often loses ground during the summer, so get out in May. And history bears this out. According to the Stock Trader's Almanac, from 1950 through 2012, the Dow Jones industrial average (^DJI) rose more than 16,000 points from November through April but lost nearly 1,800 from May through October. Well, that strategy would have backfired so far this year.

The Dow and Standard & Poor's 500 index (^GPSC) both ended last week at record highs. And the Nasdaq composite (^IXIC) was the big winner for the week and the month, jumping more than 3 percent in May.

The best performing stock on the S&P 500 last month was Netflix (NFLX), up 30 percent after raising its monthly subscription fee. The worst performer was Whole Foods Market (WFM), down 23 percent after slashing its earnings forecast for the year.

-Produced by Drew Trachtenberg.


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