Afternoon Market Update (BBY, RTP, DELL, MSFT, GOOG, INTC, AAPL)

Retail stocks moved up gradually as manufacturing activity in the New York region indicated an improvement in the business conditions in June. However, the top US electronics retailer, Best Buy Co BBY, dropped 5.7% to $38.71 as it announced its FQ1 profits and sales short of the expectations. Shares of Mining group Rio Tinto RTP moved up by more than 1% after the company’s announced its plans to invest $469 million for the construction of the Kennecott Eagle nickel and copper mine in the Upper Peninsula of Michigan. RTP made the decision after it received the final environmental approval. The company will start the construction this year. The technology stocks continued to post gains today. Stocks making waves in the technology sector are Dell Inc DELL, Google Inc. GOOG, Microsoft Corp MSFT, Intel Corp INTC and Apple Inc AAPL. Shares of AAPL moved up after the company launched the new version of its Mac mini desktop computer. Read more from Benzinga's Company news.