(Updates from 12:48 a.m. ET with closing information.)NEW YORK ( TheStreet) -- Apple (AAPL - Get Report) shares rose 1.19% to $468.04 following the Obama administration's ruling that Apple could continue importing older models of the iPhone and iPad.
Qualcomm (QCOM - Get Report) shares fell 1.29% to $65.89 after analysts downgraded the stock Monday morning. Piper Jaffray's Gus Richard lowered his rating on the semiconductor manufacturer's stock to "neutral" from "overweight" and its price target to $67 from $71, citing anticipated lower demand for high-end smartphones. He wrote that "recent checks with foundry contacts now indicate they are seeing cancellations for components used in high-end smartphones by component vendors" that "point to an accelerating mix shift to the low-end that we believe will impact QCOM's royalty stream."
Shares of BlackBerry (BBRY - Get Report) jumped 7.51% to $9.59 following rumors about its upcoming smartphone release. Press shots of the phone, known as the BlackBerry A10, were apparently leaked online over the weekend, with an official tutorial for the phone revealing that the phone's name had been changed to the BlackBerry Z30. The phone, tipped as the follow-up to the disappointing BlackBerry Z10, features a larger, 5-inch OLED screen and a new slider handset known as the BlackBerry Z15. In addition, the Canadian electronics company will launch BBM for Android and iOS sometime "this summer."
Closing prices: AAPL rose 1.5% to $469.45, QCOM fell nearly 1% to $66.25 and BBRY rose 7.4% to $9.58. -- Written by Laura Berman in New York