(Updates from 1:19 p.m. ET with closing prices.)NEW YORK ( TheStreet) -- Apple ( AAPL) shares rose 1.1% to $457.07 on additional rumors about the pending iPhone 5S. Tech blog DigiTimes reported that Apple's upstream supply chain sources are saying components are will be shipped for the iPhone 5S by the end of May and that we could see the iPhone 5S later this summer. The iPhone 5S is expected to be largely similar to the iPhone 5, with minor improvements made. Among them, industry analysts are expecting an improved camera, faster processor and updated operating system.
Oracle ( ORCL) shares plunged 8.33% to $32.78 after the software and services giant missed Wall Street estimates for its third quarter. The company, led by CEO Larry Ellison, reported third-quarter earnings of 65 cents per share on $8.97 billion in revenue, as new software licenses and cloud-software subscription revenue were down 2% to $2.3 billion. Analysts polled by Thomson Reuters were looking for earnings of 66 cents per share on $9.38 billion in revenue. Total software revenue was up 4% to $6.67 billion and hardware-systems revenue declined 16% to $1.24 billion. Services revenue fell 8% to $1.045 billion. On the earnings call, Co-President and CFO Safra Catz said some of Oracle's sales from the third quarter moved into the fourth quarter, but have now closed. Catz provided guidance of earnings between 72 cents and 78 cents per share on a GAAP basis, with revenue growing as much as 4%. Ellison said Oracle's new hardware, which will be announced next week, offers 10 times the performance of what it replaced. "We think the fourth quarter will be better than the third quarter, but we expect the real turnaround in the first quarter of 2014," Ellison said on the call.
Yahoo! ( YHOO) shares rose 3.15% to $22.79 after Oppenheimer analyst Jason Helfstein raised his price target to $27 on the Internet company. He raised his target to $27 from $22, upgrading the stock to "outperform" from "perform," noting a higher trading value for Yahoo Japan, an assumed Alibaba IPO in the next 12 months at a $77 billion valuation and better performance in the core business than Wall Street expects. There's been recent talk about Yahoo! acquiring some companies to help expand its core business, as it puts its near $6 billion in cash to work. Pivotal Research Group analyst Brian Wieser mentioned this in a recent research note, saying the company should focus on smaller deals. "Arguably the company's pursuit of acqui-hires (buying very small companies for the sake of acquiring talent and intellectual property) is one of the most efficient ways for Yahoo to grow inorganically, as long as it has processes in place to retain entrepreneurs and deploy their products in a manner which leverages Yahoo's existing scale," Wieser wrote in the note.
Closing prices: AAPL closed Thursday up 65 cents, or 0.14%, to $452.73; ORCL was down $3.47, or 9.7%, at $32.30; and YHOO finished up 77 cents, or 3.5%, at $22.86 -- Written by Chris Ciaccia in New York >Contact by Email. Follow @Commodity_Bull