By Dow Jones Business News, September 23, 2013, 04:48:00 PM EDT
By Rex Crum, MarketWatch
SAN FRANCISCO (MarketWatch) -- Apple Inc. and BlackBerry Ltd. ended up being two of the few big-name tech stocks to
rise Monday on what was otherwise a negative start to the week for the sector.
Apple ( AAPL ) closed with a gain of $23.23 a share, or almost 5%, at $490.64 after the company said it sold 9 million
of its new iPhone 5C and iPhone 5S models over the weekend. The latest models of the iPhone just went on sale on Friday.
Apple also said that more than 11 million unique listeners have used the new iTunes Radio service that comes with iOS 7,
the iPhone operating system.
Apple said in a filing with the Securities and Exchange Commission that it now expects fiscal fourth-quarter sales
will be near the high end of its previously forecast range of $34 billion to $37 billion, and gross margins to also be
at the high end of its forecast.
Internet-radio company Pandora Media Inc. ( P ) fell more than 10%, to close at $24.26 a share, mostly due to concerns
about the initial success of iTunes Radio as a rival to Pandora.
BlackBerry (RIMM) ended the day up by 10 cents a share at $8.82. The troubled smartphone maker said it had reached a
deal to be taken private at $9 a share by a consortium led by Fairfax Financial Holdings Ltd.
Analysts at Jefferies & Co. and RBC Capital Markets cut their ratings on BlackBerry on Monday in the wake of the
company's revenue warning last Friday. BlackBerry's shares fell more than 17% on Friday.
On Monday, Groupon Inc. (GRPN) shares fell 5.6% to close at $11.94. On Friday, a U.S. District Judge in Chicago chose
not to dismiss a lawsuit that accuses Groupon of misleading investors about its internal controls and financial
prospects ahead of its November 2011 IPO.
Oracle Corp. ( ORCL ) shed 11 cents a share to end the day at $33.94 a day after Chief Executive Larry Ellison kicked
off the company's Oracle Openworld conference in San Francisco.
The Nasdaq Composite Index (RIXF) fell more than 9 points to close at 3,765.29, and the Philadelphia Semiconductor
Index (SOX) also closed with a small loss.
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