Tech stocks were again at the center of attraction in the trading arena today, with Apple Inc. (NASDAQ:AAPL) and Research In Motion Limited (USA) (NASDAQ:RIMM) (TSE:RIM) still in the red, and Dell Inc. (NASDAQ:DELL) gaining on investor’s speculation about the PC maker going private.
Facebook Inc (NASDAQ:FB) shares were up 0.5 percent to $31.10, around 1 PM EST, as the social-networking company held an event at its corporate headquarters in Palo Alto, California. Many experts predict the social networker will gain on its mobile efforts.
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The NASDAQ Composite Index did cover some of its losses but was still down by almost 8 points at 3,109.
Dell’s stocks were the hot favorite, gaining about 4 percent to $12.83, over the 3 percent gain on Monday. The gain in the stocks came after the reports claiming the PC maker is in talks with two private-equity firms (TPG and Silverlake, according to WSJ) about going private.
“The likelihood is low, as it would take sizable financing for a company of Dell’s size, with its $21 billion market cap,” said Shaw Wu of Sterne Agee. “A deal of this size would likely involve multiple private-equity firms, and we estimate that the majority of [Dell’s] businesses remain under structural and secular pressure.”
Apple’s share lost about 2.63 percent to $489 in the afternoon trading session, after the reports claimed that the company has put on hold the orders for parts for the iPhone 5 owing to less than expected demand for the smartphone.
Research In Motion Limited (USA) (NASDAQ:RIMM) (TSE:RIM), despite getting an upgrade to a buy from underperform by Charter Equity on Tuesday, the BlackBerry maker’s share were down after gaining more than 10 percent in the previous session.
In a report, Ed Snyder wrote that the “curb appeal” of the new BlackBerry 10 operating system, due to launch in the coming weeks, could help investors look past network-pricing issues. He cited his “preliminary review” of the new operating system, adding that with “a compelling user interface, 70K applications and Research In Motion Limited (NASDAQ:RIMM) (TSE:RIM)’s hallmark QWERTY keyboard included in the SKU lineup, we believe the BB10 platform will appeal to a healthy percentage of the company’s 80K subscribers, driving an upgrade cycle.” In the afternoon trading session, Research In Motion Limited (NASDAQ:RIMM) (TSE:RIM)’s shares were down around 3.2 percent to $14.24.