IBD's Top 10 - Monday

New iPhone Out; RIM Unfazed

1 As expected, Apple (NasdaqGS:AAPL - News) unveiled a high-speed version of its smart phone. The 3G iPhone, which will go on sale July 11, features GPS and costs less than the original, priced starting at $199. Apple also revealed a MobileMe online service for synchronizing applications that costs $99 a year. Apple shares fell 2%. BlackBerry maker Research In Motion (NasdaqGS:RIMM - News) wasn't fazed, rising 2%.

Lehman Raising $6B, Sees Loss

2 The investment bank plans to raise new capital to cover a Q2 loss of $2.8 bil, or $5.14 a share, its first as a public firm. Views were for a loss of 22 cents. Lehman Bros. (NYSE:LEH - News) expects net revenue to be a negative $700 mil, largely on trading losses. It said it sold about $130 bil of assets in Q2, with mortgage-related assets and leveraged loans down 15%-20%. Shares fell 9%.

Pending Home Sales Rebound

3 An index tracking contract signings for existing homes shot up 6.3% in April to a 6-month high from Oct.'s record low as buyers snapped up bargains in beaten-down markets, the Nat'l Association of Realtors said. The report suggests resale closings likely improved in May or this month. Some analysts see signs of a bottom, but prices have yet to stabilize.

Oil Eases On Dollar, Awaits Data

4 Crude backed off Fri.'s highs, ending down $4.19 to $134.35 a barrel as the dollar edged off record lows vs. the euro. Average gasoline prices topped $4 a gallon for the first time Sun. and moved to $4.02 on Mon. Saudi Arabia called for a meeting between oil producers and consumers, though analysts doubt that'll have much impact.

Indexes Mixed; Nasdaq Slides

5 The Nasdaq fell 0.6%, undercutting its May lows. Apple's 2% drop weighed on the composite, which trimmed losses late as Research In Motion rallied off its 50-day line. The NYSE composite was flat while the S&P 500 edged up 0.1% and the Dow gained 0.6% on strong McDonald's sales. Volume fell. The 10-year Treasury yield rose 8 basis points to 4.02%.

Iran Blames Iraq Woes On U.S.

6 Iran's supreme leader, Ayatollah Ali Khamenei, told visiting Iraqi PM Nouri al-Maliki that U.S. forces in his country pose the biggest obstacle to Iraq's future. Al-Maliki was in Tehran to foster stronger trading ties, even though Iran has long been accused of arming Iraqi militias. Tehran is hoping to undermine ongoing U.S.-Iraqi talks on a long-term security deal.

Obama, McCain Spar On Economy

7 Barack Obama said his GOP rival is an extension of President Bush and the "most fiscally irresponsible administration in history." Obama said he would keep Bush's income tax cuts for those making less than $200,000. John McCain's spokesman said Obama was a tax-and-spend liberal whose policies would destroy jobs. McCain will speak before a key business group on Tue.

High Court Limits Patent Rights

8 The Supreme Court unanimously ruled that firms give up the right to control how patented tech is used by the buyer once it is sold. The ruling vs. S. Korea's LG Electronics could affect patent holders like wireless tech giant Qualcomm (NasdaqGS:QCOM - News) and seed king Monsanto (NYSE:MON - News). Patent holders likely could still restrict future uses via license agreements.

Bush Arrives For Final EU Summit

9 The president arrived in Slovenia for his last U.S.-EU Summit at which he'll push for stronger penalties vs. Iran to discourage it from developing atomic weapons. Bush will also discuss with European leaders the world food crisis and Israeli-Palestinian peace talks. Bush will also visit Germany, Italy, France, England and N. Ireland.

Violent Crime Declined In U.S.

10 Violent crimes dipped 1.4% last year, reversing 2 years of increases, the FBI reported. Crime trends weren't uniform, however, with murders plunging 9.8% in big cities with more than 1 mil people while rising 3.7% in cities with 50,000-100,000. Property crimes fell 2.1%, the biggest drop in 4 years.