Apple added 1.1% to $472.61. The company will unveil a new iPhone at a Sept. 10 event, according to a person familiar with its plans. New iPads, including one with a thinner body and a mini version with a high-resolution screen will go on sale later, two people said.
Marvell Technology gained 3.3% to $13.13. RBC Capital Markets raised its recommendation on the maker of chips for smartphones and computers to top pick from outperform.
Eli Lilly & Co. gained 4% to $56.22. The pharmaceutical company said a study found a drug it is developing is tied to increased survival of patients with a type of lung cancer. Lilly expects to submit applications for necitumumab to regulators before the end of 2014.
Yum lost 2.4% to $72.67. The owner of the KFC and Pizza Hut chains said same-store sales in China declined 13% last month because people remained reluctant to eat chicken following an outbreak of avian flu.
Orbitz Worldwide Inc. fell 12% to $10.30. The Internet travel services provider said PAR Capital Management has sold 8.1 million Orbitz shares, or 33% of its holding. PAR aims to “better diversify its portfolio,” Paul Reeder, President of PAR Capital Management, said in a statement.
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