Apple Loses Top Lawyer

Apple (AAPL Quote - Cramer on AAPL - Stock Picks) said Daniel Cooperman, the general counsel, senior vice president and secretary at Oracle (ORCL Quote - Cramer on ORCL - Stock Picks), will join the iPhone seller on Nov. 1 in the same capacity.

Donald Rosenberg, Apple's current general counsel, is leaving the company to become the top lawyer at Qualcomm (QCOM Quote - Cramer on QCOM - Stock Picks), where he will also hold the titles of executive vice president and corporate secretary.

Rosenberg was with Apple for under a year.

"Dan will be an excellent addition to our team and will fit right into Apple's fast-paced culture," said Steve Jobs, Apple's CEO, in a press release Friday. "Dan is a seasoned professional with extensive experience in securities compliance, intellectual property, litigation and corporate governance."

Shares of Apple were down 0.5% at $153.77. Qualcomm and Oracle were fractionally higher.