Late Market Roundup (AAPL, MSFT, INTC, RIMM, JNPR, JBLU, XOI, BP)

The technology stocks, especially the large-cap ones, are dragging the market down. With the tech sector slipping for the second consecutive day, shares of Apple AAPL are down by 0.7%, Microsoft MSFT by 1.9% and Intel INTC by 2.5%. The rare gainers among the sector are Research In Motion RIMM, which is up 2.5%, and Juniper Networks JNPR, which is up 7.2%. The world’s biggest software maker, Microsoft Corp MSFT has planned to sell $1.15 billion of convertible senior notes due in 2013. The proceeds will be used to repay short-term debt. General Motors Co has decided to recall around 1.37 million vehicles due to risks of overheating and fire associated with washer fluid heater module. No injuries have yet been reported so far. The recall will cover certain models of Buick, Cadillac, Chevrolet, GMC, Hummer and Saturn from the years 2006 to 2009. The passenger traffic for May has increased by 9.8% to 2.3 billion revenue passenger miles at JetBlue JBLU. Since the capacity has risen by just 4.5%, the percentage of seats filled (load factor) has increased by 3.9 points to 81.3%. Shares of BP plc BP were down by around 5%, while the NYSE Arca Oil Index XOI dropped 0.4%. According to the report by New York Times, the bankers of Wall Street are beginning to foresee a possibility of BP going bankrupt due to the fallout of Gulf oil spill. Read more from Benzinga's Markets.