TECH STOCKS: Apple, Facebook Spur Tech Stocks; Molex Surges

By Rex Crum, MarketWatch

SAN FRANCISCO (MarketWatch) -- Tech stocks added to their gains as trading progressed Monday, with Apple Inc. among the advancers ahead of a company event expected to involve the iPhone, Facebook Inc. climbing toward $45, and Molex Inc. surging on a takeover offer.

Apple (AAPL) shares rose by 48, to $506.33 as anticipation continued to rise over the company's plans for the next model of the iPhone. Apple has an event scheduled at its Cupertine, Calif. headquarters on Tuesday, and it is expected to unveils details of up to two new versions of the iPhone.

Molex (MOLX) shares climbed more than 31%, to reach $38.54 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. 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) was up more than 4%, and reached a 52-week-high of $11.43 a share. 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) was at its break-even level of $13.84 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 almost 1%, to $298.34. 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 almost 2%, to $42.95 a share. UBS analyst Steve Milunovich raised his rating on NetApp to buy from neutral.

The Nasdaq Composite Index (RIXF) rose more than 20 points to 3,680, and the Philadelphia Semiconductor Index (SOX) rose almost 1%.

Subscribe to WSJ: http://online.wsj.com?mod=djnwires