Updated with closing prices below.NEW YORK ( TheStreet) -- Apple (AAPL - Get Report) shares jumped 5.37% to $556 as a Wall Street analyst came to the stock's defense, calling the decline "insanely insane."
Intel (INTC - Get Report) announced that CEO Paul Otellini will be leaving the company in May 2013, as he is set to retire. "I've been privileged to lead one of the world's greatest companies," Otellini said, in a statement released by the No.1 chip maker. "After almost four decades with the company and eight years as CEO, it's time to move on and transfer Intel's helm to a new generation of leadership." Shares were lower in Monday trading, off 0.4% to $20.11, having recovered from their worst levels of the session.
MicroStrategy (MSTR) plunged 6.36% to $85.94 as the company announced that Donald Hunt, its Executive Vice President, Worldwide Sales & Operations left the company on Nov. 9. Hunt will be paid $191,000 pursuant to an agreement with MicroStrategy as part of the executive bonus plan, plus an additional $276,000. The Update: Apple shares closed $38.05 higher at 565.73. Intel and MicroStrategy were both lower. Micro gave up $4.66 to close at $87.12 while Intel lost 6 cents to see $20.25 at the end. -- Written by Chris Ciaccia in New York >Contact by Email. Follow @Commodity_Bull