NEW YORK (TheStreet) -- Apple (AAPL) 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) 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. "[W]e believe that Yahoo! is becoming a show me story now that CEO Marissa Mayer has begun to make her impact on the company," wrote Piper Jaffray analyst Gene Munster, in a note.
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 [Wong] Waiming was speaking broadly about M&A strategy in a recent interview. RIM was raised as a potential target by the journalist and Mr. Wong repeatedly answered in a manner consistent with all of our previous statements on M&A strategy: Lenovo is very focused on growing its business, both organically and through M&A. When inorganic ideas arise, we explore them to see if there is a strategic fit." Interested in more on Research In Motion? See TheStreet Ratings' report card for this stock. --Written by Chris Ciaccia in New York >Contact by Email. Follow @Commodity_Bull
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