Apple shares up on Wal-Mart pact speculation

Shares of Apple got a boost today amid upbeat comments by Morgan Stanley analyst Rebecca Runkle, who said the computer maker's pact with retail giant Wal-Mart Stores may be broader than first thought. AAPL gained $1.13, or 3.1 percent, to close at $37.13. "While we don't believe Apple iPod availability at Wal-Mart is completely new news, we do think the partnership is broader than people think, in transition and set to expand in the near-term," asserted analyst Rebecca Runkle in a note to clients. Apple and the world's biggest retailer have been expanding their pact to sell versions of Apple's iPod from a test to a full partnership, marking a new development as of the last few months, according to Runkle. Runkle said that reports about mounting inventory of Apple products may be exaggerated. "In fact, we do not believe Apple has a major inventory problem," she said. "We think much of the inventory chatter resulted from inventory increases ahead of broadening retail partnerships and sell-in ahead of new product launches." The analyst maintained an overweight rating and $60 target price on Apple's stock.

iHome to ship iPod-based alarm clock in August...

iHome, a division of SDI Technologies, recently announced the iH5 alarm clock radio for iPod users. Users can select audio from the integrated iPod interface or from fm/am radio. The iH5 features integrated speakers with "incredible clarity, depth and power." The speakers use Reson8 sound chamber technology. The alarm also features a wake buzzer. It automatically charges any iPod placed in the integrated dock. The device is designed to match the iPod. It features a white plastic enclosure with metallic speaker grille. It features a large backlit LCD display that serves as a clock, tuner, and audio source selector. The iH5 is not currently available, but will start shipping later this summer. SDI Technologies said the iH5 will ship in August for $100.

Apple to offer Sundance podcasts on iTunes

Apple and the Sundance Channel have announced a deal that will make content from the cable network exclusively available as podcast downloads from Apple's iTunes Music Store. The partnership with Sundance gives iTunes one of its first exclusive podcast partners. "The Sundance deal expands iTunes beyond music and into other types of radio-like content," AdAge says. The deal "inches Apple's iTunes operations -- originally created as a music distribution hub -- toward becoming a broader, radio-like media entity."

The Register previews Nokia N91 iPod challenger...

"Although it's still four to five months away from release, the N91 is shaping up as Nokia's first serious challenge to the booming iPod business," The Register says. The N91 is a hard-disk based phone optimized for music playback. "Out of the box, it immediately scores over the iPod and the copycat MP3 jukeboxes by allowing you to share your music files and playlists with Series 60 smartphones in close proximity to you." However, the report notes that in other respects, the N91 lacks the iPod's ease of use. "The user interface isn't always optimal: partly because it's a multifunction device, and partly because the user is forced to fight against, rather than work with the design-by-committee Series 60 User Interface."