Motorola Mobility (MMI) Soars on Release of Xoom

Shares of Motorola Mobility Holdings Inc. (NYSE:MMI) soared close to 7 percent in morning trading Friday as it announced they'll launch Wi-Fi-only version of its Xoom tablet March 27 in the U.S.

According to Motorola, the Xoom has a sharper screen than Apple's (NASDAQ:AAPL) iPad, and runs on Honeycomb, Google Inc.'s Android platform.

The 32-gigabyte version of the Xoom, according to Motorola, will sell for $599.

Motorola Mobility was trading at $26.25, gaining $1.23, or 4.92 percent, as of 11:54 AM EDT.