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.

Source URL: http://investorplace.com/2013/01/mondays-ip-market-recap-aapl-hpq-intc-ge-jpm-bac/
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