Tech Stocks, Apple Inc (NASDAQ:AAPL) Jumps 1% (RMBS, AAPL, BKS, GRPN, CLS, QCOM)
Rambus Inc (NASDAQ:RMBS) decreased 5.50% to $5.76. JP Morgan lowered the rating on the stock to Neutral as the stock is up 45% over the past month.
Apple Inc (NASDAQ:AAPL) went up 0.87% to $578.96 Apple Inc is making a significant change with iOS 6 which will ensure the privacy of their users. Their new update will prompt users for permission before accessing their private data. Apple’s calendar 2012 will be the most profitable year any publicly-traded company has ever posted, predicts Topeka Capital’s Brian White, who maintains a $1,111 PT and trumpets Apple’s low valuation. Meanwhile, Piper’s Gene Munster, also no stranger to bullish notes on Apple, claims his survey of 100 developers at WWDC indicated Apple’s edge in developer loyalty, the result of superior app monetization and the iPad’s tablet leadership, is strengthening.
Barnes & Noble Inc (NYSE:BKS) declined 1.35% to $15.39. Barclays Capital rated the stock as underweight in a research note.The Company announced that A Kiss at Midnight from Eloisa James’ Eloisa’s Fairy Tales series would be featured as the latest pick for “Barnes & Noble Spotlight”.
Groupon Inc (NASDAQ:GRPN) surged up 6.36% to $10.71 on a traded volume of 2.49 million shares. Morgan Stanley raised the rating on the stock to overweight from equalweight. The stock is upgraded due to international sales opportunities. The price target set for 12-month is $18.
The Swedish investor Investment AB Kinnevik had shed the entire direct stake it owned in Groupon Inc for total proceeds of SEK569m. Kinnevik has sold the 8.37 million Groupon shares it directly held at an average price per share of $9.24 without giving any details about the buyer.
Celestica Inc (USA) (NYSE:CLS) slipped 3.21% to $7.23. The Company said that would wind down its manufacturing services for Research in Motion over the course of the next three to six months. Celestica has been a high-performing manufacturing supplier for RIM and will work closely with RIM throughout the transition.
QUALCOMM Inc (NASDAQ:QCOM) is down 0.05% to $56.49. The Company has acquired Summit Microelectronics. Summit Microelectronics is a developer and provider of programmable power integrated circuits. Qualcomm would be able to offer a robust portfolio that would address a broader set of customers and complex design challenges due to the acquisition. The employees of Summit Microelectronics have joined Qualcomm’s CDMA Technologies unit.