Updated from 11:34 a.m. EST to include information on Yahoo in the first paragraph and updated share prices.
NEW YORK (
) -- Ex-
executive Marissa Mayer announced plans to join
as its new
on Monday. Shares of Yahoo! closed down 0.6% to $15.65.
"I'm incredibly excited to start my new role at Yahoo! tomorrow," Mayer
after the closing bell on Monday. The Internet giant is scheduled to release earnings on Tuesday.
Research In Motion
( RIM) just can't get a break.
Baird Equity Research
released a survey on Friday that revealed developer sentiment toward BlackBerry 10 and BlackBerry 7 at a new low, according to
. Out of the 200 developers surveyed, Baird found the collective outlook for BlackBerry 10 had fallen 17.3% from the previous quarter. The developers' outlook for the BlackBerry 7 declined 35%.
Shares of the BlackBerry maker tumbled 3.45% to $6.99 in Monday morning trade.
analyst Daniel Kurnos increased his growth estimate of
through 2013, pushing his price target to $45 and reiterating his 'buy' rating.
"While we are trimming our FY12 revenue estimate by $100 million to reflect the stronger dollar in the back half of the year, we believe improving Payments trends, including accelerating growth in number of payments and rising penetration rates, could still help drive total revenue of over $14 billion for the year, or growth of more than 20%," Kurnos wrote in a note to clients on Monday.
Despite the vote of confidence, shares of the online retail giant slid 3.38% to $38.60. The company is scheduled to announce its second-quarter earnings on Wednesday after the close of trading.
Just days before
releases its quarterly earnings,
analyst Ehud Gelblum drastically reduced his price target for the company, lowering it to $125 from $155, but reiterated his 'overweight' rating. The mean price target of the 36 analysts surveyed by
"Heading into FQ3, we are lowering our Fiscal Year 2012/Fiscal Year 2013 estimates on a weaker 1H spending environment as evidenced by recent data points on Europe," read Gelblum's research note on Monday. "We are cautious heading into the print on the uncertain macro despite the recent 30% drop in share price but remain Overweight LT." Shares rose 0.79% to $92.11.
shares dropped 2.17% to $1.80 in Monday's trade despite
to cut the price of the Nokia Lumia 900 phone. Last week, it was widely reported that the Finnish phone marker plans to cut jobs in China as a part of an effort to reorganize its marketing operation.
--Written by Nathalie Pierrepont in New York.
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