NEW YORK ( TheStreet) -- Apple (AAPL - Get Report) shares, which have fallen for much of 2013, were sharply higher on Monday, gaining 2.98% to reach $453 following reports the company may announce a new iPad later this year.
The tech titan will unveil a new iPad with 128 GB of storage, twice the amount of its largest model, according to the 9to5Mac Web site, which cites unnamed sources.
Apple shares have taken a beating this year and are off more than 15%. Last week the company reported first-quarter revenue that failed to live up to Wall Street's estimate.
Yahoo! (YHOO - Get Report) dipped 0.29% to $20.31 ahead of the firm's fourth-quarter earnings report. Analysts polled by Thomson Reuters expect the company to earn 28 cents a share on $1.21 billion for the quarter. The Estimize consensus is for 31 cents a share on $1.208 billion in revenue. Analysts are looking for Yahoo! CEO Marissa Mayer to detail her plans to transform the company, which has enjoyed a share price uptick since she took over in July. "
Research In Motion (RIMM) shares fell sharply, off 6.65% to $16.37 as Chinese electronics giant Lenovo backed away from comments it made last week suggesting it would buy the Canadian handset maker. Lenovo put out a statement saying its CFO's comments were taken out of context. In a statement obtained by The Next Web, Lenovo said: "In general, we do not comment on M&A rumors or speculation. We are aware that Lenovo's CFO