Apple Gains Ground: Winners & Losers
NEW YORK (TheStreet) -- Apple (AAPL) shares, which have fallen for much of 2013, were sharply higher on Monday, gaining 2.98% to reach $453 following reports the company may announce a new iPad later this year.
The tech titan will unveil a new iPad with 128 GB of storage, twice the amount of its largest model, according to the 9to5Mac Web site, which cites unnamed sources.
Apple shares have taken a beating this year and are off more than 15%. Last week the company reported first-quarter revenue that failed to live up to Wall Street's estimate.
Analysts polled by Thomson Reuters expect the company to earn 28 cents a share on $1.21 billion for the quarter. The Estimize consensus is for 31 cents a share on $1.208 billion in revenue.
Analysts are looking for Yahoo! CEO Marissa Mayer to detail her plans to transform the company, which has enjoyed a share price uptick since she took over in July. "
Research In Motion (RIMM) shares fell sharply, off 6.65% to $16.37 as Chinese electronics giant Lenovo backed away from comments it made last week suggesting it would buy the Canadian handset maker.
Lenovo put out a statement saying its CFO's comments were taken out of context.
In a statement obtained by The Next Web, Lenovo said:
"In general, we do not comment on M&A rumors or speculation.