Citing people familiar with Apple's plans, Bloomberg reported the Apple-branded watch could arrive in 2013. According to the report, Apple has filed at least 79 patent applications which have the word wrist in it, including one for two-way communication of location data between a portable media device and an accessory. This patent allows media to be transferred between devices using GPS data with a separate accessory.
Apple remained in the spotlight, as Berkshire Hathaway (BRK.A) CEO Warren Buffett said the tech giant should ignore David Einhorn, and run the company for the long-term, as opposed to the short-term. Shares breached $425, a level which Doubleline Capital's Jeff Gundlach had previously said shares would return to after their parabolic run up late last year.
Palo Alto Networks (PANW - Get Report) shares fell 5.48% to $55.34, continuing a second-day slide after the company reported second-quarter earnings and outlook on Friday. For its fiscal second quarter, Palo Alto Networks earned 5 cents a share on $96.5 million, as revenue jumped 70% year over year. Analysts were expecting earnings of 4 cents a share on $93.3 million in sales. The network security specialist said it expects to earn 5 cents a share, with sales between $100 million and $104 million. Wall Street consensus is earnings of 5 cents a share on $101.9 million. -- Written by Chris Ciaccia in New York >Contact by Email. Follow @Commodity_Bull