Market Roundup (ABK, DCI, IRDM, AAPL, GOOG)

According to The International Swaps and Derivatives Association, the move by Wisconsin to takeover contracts from Ambac (NYSE: ABK) is a bankruptcy event. This announcement can trigger swap payments of around $3 billion. The shares of filtration systems firm Donaldson Company (NYSE: DCI) rose 1.2% to $45.70 after it announced the authorization of a new 8 million share buyback program. DCI has already repurchased 7.7 million shares from an existing 8 million authorized buyback.Iridium Communications (NASDAQ: IRDM) shares climbed 2.2% after the company announced that its cargo tracking-device sales will grow by more than half this year due to commodity shippers focusing on slashing their costs.Apple (NASDAQ: AAPL) shares gained 2.2% after analysts at Credit Suisse raised their estimates for earnings and iPad shipments to more than 1 million units in Q2 from a previous expectation of 650,000.Russia’s decision to invest $100 million for creating a "national search engine" may further intensify competition for Google (NASDAQ: GOOG) in a country where it is ranked a distant No.2.Read more from Benzinga's Markets.