Tech Winners: Xerox, Adobe
NEW YORK (TheStreet) -- A handful of tech stock winners emerged during the regular trading session Tuesday afternoon as stocks got a boost from the latest merger and acquisition news, positively surprising industrial production growth and encouraging retail earnings reports.
Xerox
(XRX) - Get Report
stock was jumping 3.4% to $9.33. On Monday, it was reported that
TST Recommends
Greenlight Capital
, run by hedge fund manager and famous short seller David Einhorn, almost doubled its stake in Xerox, more than doubled its interest in
Microsoft
(MSFT) - Get Report
and took new exposure to
Apple
(AAPL) - Get Report
.
Shares of Microsoft stock were up 1.9% to $24.83.
Apple stock, meanwhile, rose 2.1% to $252.75. Reports say that Apple has taken 48% of the global mobile market's earnings.
The company has been in a widely publicized dispute with
Adobe
(ADBE) - Get Report
over the installation of the latter's Flash technology in Apple's popular smart handheld devices.
Still, many observers continue to believe that Adobe's Flash will remain the technology of choice when it comes to online multimedia services. Shares of Adobe stock were up 2.2% to $27.95.
Apple rival
Research In Motion
(RIMM)
fell 1.2% to $50.21 Tuesday afternoon. Currently, Research In Motion's new BlackBerry Torch is on sale for half of
AT&T's
(T) - Get Report
launch price; there is debate over whether this means the company and its phone have been struggling.
On Tuesday afternoon,
SanDisk
(SNDK)
advanced by 2.3% to $43.50. According to the Trefis financial community, the stock could benefit from a higher-than-expected market share for its mobile phone flash cards as well as rising global mobile phone sales.
-- Reported by Andrea Tse in New York
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