Dell Dealing, Apple Reeling — Monday’s IP Market Recap
by Marc Bastow | January 14, 2013 4:58 pm
[1]Monday was a mixed day for the markets, but a pretty big day for tech.
Dell (NASDAQ:DELL[2]) made the biggest noise Monday, shooting up more than 12% on unconfirmed reports that the computer maker was talking to private-equity firms about a possible deal[3]. No names were named in any of the reports, but several banks have been notified of the move, Bloomberg says.
Apple (NASDAQ:AAPL[4]) continued its long-running downward trend and briefly dipped below $500[5] following reports that the company cut orders for iPhone 5 components thanks to weak demand. Apple shares fell just less than 4% by day’s end.
Hewlett-Packard (NYSE:HPQ[6]) was the Dow Jones‘ top gainer, rising 4% amid news that it was the top maker of personal computers[7] in 2012 — and not Lenovo (PINK:LNVGF[8]), which reportedly had taken the top spot in Q3 last year.
Last but not least, Research In Motion (NASDAQ:RIMM[9]) jumped another 10% Monday, putting RIMM shares at 90% gains in the past few months as suspense builds over this month’s launch of BlackBerry 10[10].
At the end of the day, the Dow was ahead 0.14% to finish at 13,507.32, the Nasdaq declined 0.26% to 3,117.50 and the S&P 500 slid fractionally to 1,470.68.
Elsewhere on Wall Street, UPS (NYSE:UPS[11]) announced it is scrapping plans for a $6.8 billion merger[12] with smaller dutch delivery company TNT Express (PINK:TNTEY[13]). UPS blamed the European Commission’s antitrust regulators for ruining the deal; still, UPS shares rose just less than 2% Monday.
Swiss watchmaker Swatch (PINK:SWGAY[14]) is buying Hollywood’s go-to jeweler, Harry Winston[15]. Shares of the jewelry company’s parent company, Harry Winston Diamond (NYSE:HWD[16]) — which will change its name after the sale — rose more than 4% while Swatch moved ahead by more than 3%.
Lastly, Fifth & Pacific (NYSE:FNP[17]) — which includes Lucky and Kate Spade brands — gained more than 11% despite reporting a 2% decline in Juicy Couture same-store sales and providing disappointing earnings guidance.
Three Up
- Flowers Foods (NYSE:FLO[18]): Up 9.6% ($2.39) to $27.22.
- Sears (NASDAQ:SHLD[19]): UP 8.9% ($3.65) to $44.60.
- Radioshack (NYSE:RSH[20]): Up 4.1% (9 cents) to $2.31.
Three Down
- Cirrus Logic (NASDAQ:CRUS[21]): Down 9.4% ($2.96) to $28.62.
- Green Mountain Coffee (NASDAQ:GMCR[22]): Down 4.6% ($1.89) to $39.34.
- Francesca’s (NASDAQ:FRAN[23]): Down 3.6% ($1.01) to $27.22.
Marc Bastow is an Assistant Editor at InvestorPlace.com. As of this writing he is long AAPL.
Endnotes:
- [Image]: https://www.investorplace.com/hot-topics/investorplace-market-recap/
- DELL: http://studio-5.financialcontent.com/investplace/quote?Symbol=DELL
- talking to private-equity firms about a possible deal: http://www.bloomberg.com/news/2013-01-14/dell-is-said-be-in-buyout-discussions-with-private-equity-firms.html
- AAPL: http://studio-5.financialcontent.com/investplace/quote?Symbol=AAPL
- briefly dipped below $500: https://investorplace.com/2013/01/apple-and-iphone-trouble-either-sell-now-or-hold-for-a-year/
- HPQ: http://studio-5.financialcontent.com/investplace/quote?Symbol=HPQ
- was the top maker of personal computers: http://www.mercurynews.com/business/ci_22371636/hewlett-packard-remained-king-pc-sales-2012
- LNVGF: http://studio-5.financialcontent.com/investplace/quote?Symbol=LNVGF
- RIMM: http://studio-5.financialcontent.com/investplace/quote?Symbol=RIMM
- launch of BlackBerry 10: https://investorplace.com/2013/01/should-i-buy-research-in-motion-3-pros-3-cons/
- UPS: http://studio-5.financialcontent.com/investplace/quote?Symbol=UPS
- scrapping plans for a $6.8 billion merger: https://investorplace.com/2013/01/the-deals-off-ups-gives-up-on-6-9b-takeover/
- TNTEY: http://studio-5.financialcontent.com/investplace/quote?Symbol=TNTEY
- SWGAY: http://studio-5.financialcontent.com/investplace/quote?Symbol=SWGAY
- buying Hollywood’s go-to jeweler, Harry Winston: https://investorplace.com/2013/01/swatch-to-spend-1-billion-to-buy-prestigious-brand/
- HWD: http://studio-5.financialcontent.com/investplace/quote?Symbol=HWD
- FNP: http://studio-5.financialcontent.com/investplace/quote?Symbol=FNP
- FLO: http://studio-5.financialcontent.com/investplace/quote?Symbol=FLO
- SHLD: http://studio-5.financialcontent.com/investplace/quote?Symbol=SHLD
- RSH: http://studio-5.financialcontent.com/investplace/quote?Symbol=RSH
- CRUS: http://studio-5.financialcontent.com/investplace/quote?Symbol=CRUS
- GMCR: http://studio-5.financialcontent.com/investplace/quote?Symbol=GMCR
- FRAN: http://studio-5.financialcontent.com/investplace/quote?Symbol=FRAN
Source URL: https://investorplace.com/2013/01/mondays-ip-market-recap-aapl-hpq-intc-ge-jpm-bac/