Apple's Drive, Tesla Stalls: Tech Winners & Losers
NEW YORK (TheStreet) -- Apple (AAPL) shares rose 1.45% to $481.85 after The New York Times reported that the tech giant may be working on a watch to add to its product portfolio.
The report said that Apple's developing a "smart watch" type of device which will run on its iOS software. In the same story, there was also mention of an iCar, something Steve Jobs wanted to tackle before he passed away.
CEO Tim Cook is speaking at the Goldman Sachs Technology and Internet Conference in San Francisco Tuesday. TheStreet will be live-blogging the event.
Tesla Motors (TSLA) shares stalled, falling 0.57% to $39.02 after The New York Times reported that the Model S stalled in cold weather. CEO Elon Musk has come to the defense of his company, saying that the accusations made in the story were false, and that he has other journalists lined up to make the same drive. Shares had hit a low of $37.50 earlier in the session before Musk made his comments on Twitter.
NYTimes article about Tesla range in cold is fake. Vehicle logs tell true story that he didn't actually charge to max & took a long detour.— Elon Musk (@elonmusk) February 11, 2013
Tesla blog coming soon detailing what actually happened on Broder's NYTimes "range test". Also lining up other journalists to do same drive.— Elon Musk (@elonmusk) February 11, 2013
Tesla data logging is only turned on with explicit written permission from customers, but after Top Gear BS, we always keep it on for media.— Elon Musk (@elonmusk) February 11, 2013
Zynga (ZNGA) shares continued to surge, tacking on 7.58% to $3.69 on news that New Jersey may be considering legalizing online gambling. Tough talking Gov. Chris Christie (R-NJ) vetoed a bill that would legalize online gambling, but noted that he would sign it if there were a few provisions included. He wants to see a 10-year trial period included in the bill, as well as a higher tax rate on casinos. Christie wants to raise the tax rate on casinos' online winnings from 10% to 15%. --Written by Chris Ciaccia in New York >Contact by Email. Follow @Commodity_Bull
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