By Rex Crum, MarketWatch
SAN FRANCISCO (MarketWatch) -- Apple Inc. was among tech-sector
advancers on Monday ahead of a company event expected to involve
the iPhone, Facebook Inc. climbed toward $45 and Molex Inc. surged
on a takeover offer.
Apple (AAPL) shares closed with a gain of $7.95 at $506.17 as
anticipation continued to rise over the company's plans for the
next model of the iPhone. Apple has an event scheduled at its
Cupertino, Calif., headquarters on Tuesday, and it is expected to
unveil details of up to two new versions of the iPhone.
Molex (MOLX) shares climbed more than 31%, to reach $38.63 after
the electronics-components maker agreed to be acquired by closely
held conglomerate Koch Industries for $7.2 billion in cash.
Facebook Inc. (FB) continued its recent muscle flexing, as its
shares rose to a 52-week-high of $44.79 before closing at $44.04.
Sterne Agee analyst Arvind Bhatia raised his price target on
Facebook's stock to $50 a share. It was the Facebook's highest
point since reaching $45 a share the day of its IPO in May
2012.
Groupon Inc. (GRPN) closed with a gain of 3% at $11.10 share. On
Sunday, Groupon said it acquired European travel app Blink for an
undisclosed amount. Blink offers access to last-minute hotel deals
in eight European countries, and Groupon said it would add Blink's
service to its Groupon Getaways business.
Dell Inc. (DELL) finished the day at its break-even point of
$13.84 a share after activist investor Carl Ichan said he was
giving up his efforts to stop a proposal led by Dell Chief
Executive Michael Dell to take his namesake company private. Dell
shareholders are scheduled to vote on Michael Dell's plan on
Thursday.
Amazon.com Inc. (AMZN) shares rose 1.3%, to $299.71. The
online-retailing giant denied a report that it would launch its
own, free smartphone any time soon.
Storage-technology company NetApp Inc. (NTAP) rose 1.2%, to
$42.76 a share. UBS analyst Steve Milunovich raised his rating on
NetApp to buy from neutral.
The Nasdaq Composite Index (RIXF) climbed by more than 46
points, or 1.3%, to close at 3,706, and the Philadelphia
Semiconductor Index (SOX) rose 1.3%.
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