Microsoft, Oracle: Tech Winners & Losers
NEW YORK (TheStreet) -- Following the debut of Surface, shares of Microsoft (MSFT) climbed 2.88% to $30.70. Shares of Apple (AAPL), which will be Microsoft's primary competitor in the tablet space, rose a modest 0.28% to close at $587.41.
Nvidia's (NVDA) Tegra 3 Chips will be used in a model of the Surface Tablet. Shares of the graphics-chip producer popped 6.73% to $13.23 on Tuesday.
See companies poised to benefit from the Microsoft Surface
Oracle (ORCL) released its fourth quarter earnings report late on Monday, three days ahead of schedule. The software giant's strong results drove shares up by 3.10% to $27.96 during Tuesday trading.
Shares of Ubiquiti Networks (UBNT), known as one of Silicon Valley's fastest growing companies, rose 4.31%, closing at $13.55 on Tuesday. CEO Robert Pera agreed to buy the Memphis Grizzliesbasketball team for $350 million. Over half of the company's floating shares were sold short a month ago because investors were concerned about earnings quality, amongst other things, according to CNBC. A day after a US District Court ruled in favor of Vringo's (VRNG) merger partner Innovate/Protect in a hearing concerning patents and intellectual property, shares of the New York-based company jumped 8.46% reaching $4.36. --Written by Nathalie Pierrepont in New York. >To submit a news tip, send an email to: tips@thestreet.com. Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices. >Contact by Email. Follow @nrpierrepontSelect the service that is right for you!
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