The next-generation iPad, or iPad 2, is said to have a flat back, smaller bezel and a wide-range speaker.
S&P 500 Index gained 3.00 points, or 0.24 percent, to trade at 1,246.91 at 09:50 a.m. EST. The Dow Jones Industrial Average is up 7.11 points, or 0.06 percent, to trade at 11,499.02. The Nasdaq Composite Index rose 0.20 percent to trade at 2,648.31.
With dwindling market share for Symbian and growing smartphone competition may force Nokia to adopt either Google's Android Operating System or Windows Phone 7 in a bid to regain its lost marketshare in the smartphone space.
Telecom bellwether AT&T announced its acquisition of wireless spectrum from chipmaker Qualcomm for $1.925 billion to strengthen its advanced 4G mobile broadband offering.
The three companies are starting a joint venture, Isis, in order to build a national commerce network that will utilize mobile phones to make point-of-sale purchases.
A class action suit against AT&T for back wages and damages, filed on behalf of some of its information technology workers, has picked up more plaintiffs.
Sprint Nextel, the third largest wireless carrier in the United States, could acquire Ntelos Holdings' wireless business.
Barclays Capital increased its third quarter and full-year profit estimates for Research In Motion, citing strong demand for the company's latest Smartphone - BlackBerry Torch .
Verizon Wireless, the nation's largest wireless carrier, is set to unveil details about its plan to launch its LTE 4G wireless networks in the United States.
With Verizon set to roll out their 4G network, AT&T touts recent study proclaiming its network to be the best.
Credit Suisse upgraded chip maker Qualcomm to outperform from neutral and raised profit estimates of the company, citing improved visibility on earnings growth.
Key carriers AT&T, Verizon and T-Mobile officially announced their partnership to create ISIS, a national mobile commerce platform, to make mobile wallet a reality.
Verizon has said it will not be Microsoft's Windows Phone 7's official carrier which is due to be launched this year.
By November, Sam's Club stores across US will be offering Wi-Fi to enable its customers to compare prices online through their smartphones.
