Market Roundup (RIMM, VZ, T, GOOG, GS, JPM, MS)

Research In Motion RIMM has unveiled its new Torch smartphone based on the BlackBerry 6 OS. Torch, which goes on sale on August 12, has a touchscreen and a sliding keyboard. The device will be offered exclusively by AT&T T. Goldman Sachs GS is thinking of partially or completely spinning off its massive private-equity arm. The company is concerned about the possibility of the Volcker Rule creating massive uncertainty, which may lead investors to scurry off from the stock. GS is not alone in its worry. According to certain sources, Morgan Stanley MS is also planning to spin-off FrontPoint Partners that it bought in 2006. Commodities chief of JPMorgan Chase JPM, Blythe Masters, asked her team in an internal call not to panic, following a turmoil in the unit. Certain results by the unit missed expectations by as much as 20%. JPM had started cutting off its workforce on July 21 to eliminate the overlaps resulting from its purchase of RBS Sempra Commodities. Over the weekend, the FCC met again with the executives of Google GOOG, AT&T T and Verizon VZ to work out a compromise on rules proposed by Chairman Julius Genachowski. The proposed regulations, better known as net neutrality rules, lay down the manner in which phone and cable companies should handle Web traffic such as Google’s YouTube videos. As no one is revealing what was discussed, rumors are ripe that the "secret deal" favors communications companies, instead of content providers. Read more from Benzinga's Markets.