(Updated from 3:51 p.m. ET with closing prices.)NEW YORK ( TheStreet) -- BlackBerry (BBRY - Get Report) shares soared 11% to $11.23 on renewed speculation that the company could be a takeover target by Lenovo.
Zynga (ZNGA - Get Report) shares zoomed 10.64% to $3.95 after an analyst speculated that it could make sense as an acquisition target for Yahoo! (YHOO). Wunderlich Securities analyst Blake Harper mentioned Zynga as a potential acquisition target for Yahoo!, given its small market cap. TheStreet opined on this very matter on Friday, saying Zynga could potentially make sense for the Internet giant. 3 M&A Targets for Yahoo! Other names that were mentioned as possibilities include Yelp (YELP), and Pinterest.
Apple (AAPL - Get Report) shares rose 1.2% to $436.80 despite another yet equity analyst cutting its price target and downgrading the Cupertino, CA. company's shares. CLSA analyst Avi Silver downgraded Apple to "outperform" from "buy," lowering his price target to $505 from $575. Silver cited weaker iPhone trends as the primary reason why Apple's shares have been so weak in recent months. Silver also cut his earnings estimates in the maker of the iPad for fiscal year 2014 to $46.62 a share from $51.71 while noting he expects the company to quicken its pace of new products later this year to help Apple return to historica growth levels. Shares spiked on rumors circulating social media sites including Twitter that the company would pay a special one-time dividend of $30, as it looks to return some cash to shareholders. Apple's cash hoard has prompted the ire of activist investor David Einhorn, who is insisting the company issue preferred stock, dubbed iPrefs, to allow investors to benefit from Apple's $137 billion in cash. Einhorn's Greenlight Capital dropped a lawsuit against Apple earlier this month.
Closing prices: BBRY closed up 14.1%, or $1.84, to $14.90; YHOO fell 1.3%, or 30 cents, to $22.60. ZNGA rose 10.1%, or 36 cents, to $3.93. AAPL rose 1.4%, or $6.15, to $437.87. -- Written by Chris Ciaccia in New York >Contact by Email. Follow @Commodity_Bull