Reports of a joint development deal between Inteland Research In Motionboosted shares of both stocks on Monday.
The deal, expected to be announced at this week’s Intel Developer Forum, could see RIM agreeing to use Intel chips, and Intel adopting RIM’s battery-saving technology for use in its chips, according to CNBC and other sources.
Chip stocks also got a boost Monday after an industry report showed that the chip equipment book-to-bill ratio continued to rebound for the sixth straight month in July. Chip stocks rose more than 1% on a day when the rest of the market was constrained by rising oil prices.
The Nasdaq rose 5 to 2141, the S&P gained 2 to 1221, and the Dow added 10 to 10,569. Volume rose to 1.62 billion shares on the NYSE, and 1.4 billion on the Nasdaq. Advancers led 20-12 on the NYSE, and 17-12 on the Nasdaq. Upside volume was 58% on the NYSE, and 65% on the Nasdaq. New highs-new lows were 81-25 on the NYSE, and 64-46 on the Nasdaq.
After the close, BEAannounced plans to acquire Plumtree.
During the day, LanVisionsoared 31% on its results.
Motorolarose 2% on a $780 million gain from the Sprint Nexteldeal.
Silicon Labsgained 4% on an acquisition.