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Tech Winners & Losers: Research In Motion

Priya Ganapati

Tech stocks rose Monday led by smartphone maker Research In Motion, which hit its 52-week high after it unveiled a new device, the BlackBerry Bold.

Shares of BlackBerry maker Research In Motion(RIMM - Cramer's Take - Stockpickr) gained $8.11, or 6.1%, to $140.88 after the company unveiled a new stylish, feature packed 3G-phone called BlackBerry Bold.

RIM also said it has set up a BlackBerry Partners Fund, a $150 million venture capital fund, in partnership with RBC and Thomson Reuters to drive development of mobile applications and services for the BlackBerry and other mobile platforms.

Apple (AAPL - Cramer's Take - Stockpickr) added $3.72, or 2%, to $187.15 after the company confirmed that its online stores in U.S. and U.K. are sold out of the iPhone. Many industry watchers see this as a sign that the company is clearing out its inventory in preparation of the launch of a 3G-iPhone.

Sirius(SIRI - Cramer's Take - Stockpickr) gained 12 cents, or 4%, to $2.84 after XM Satellite Radio(XMSR - Cramer's Take - Stockpickr) reported a jump in revenue though it fell short of analysts' expectations.

Sirius and XM are set to merge following regulatory approval for the deal. XM lost $129.3 million, or 42 cents a share, compared with a loss of $122.4 million, or 40 cents a share, a year ago. Revenue rose 17% to $308 million but fell short of analysts' expectations of $313 million. Shares of XM were up 50 cents, or 4.2%, to $12.30.

Sprint Nextel(S - Cramer's Take - Stockpickr) shed 42 cents, or 4.4%, to $8.98 after the company missed revenue targets for the first quarter due to its struggling wireless business.

Sprint posted a first-quarter loss of $505 million, or 18 cents a share, more than doubling the loss of $211 million, or 7 cents a share, from a year ago. Excluding charges, it earned 4 cents a share topping the consensus estimate of 2 cents. Net operating revenue declined 8% to $9.33 billion and was lower than Street expectations of $9.41 billion.

Shares of wireless broadband provider Clearwire(CLWR - Cramer's Take - Stockpickr) fell $1.03, or 7.3%, to $13.07 after iPCS, the largest independent affiliate of Sprint Nextel, sued Clearwire to block it from forming a new venture in partnership with Sprint Nextel.