SAN FRANCISCO, Calif. – Both Microsoft (MSFT) and Apple (AAPL) shares rose Tuesday morning following reports that Microsoft will announce a version of its Office software suite for the iPad next week.

Various media reported that Microsoft Chief Executive Satya Nadella will hold a press conference in San Francisco on March 27 to unveil the launch of Office for the iPad.

Microsoft shares rose 2 percent to $38.84, while Apple was up by 21 cents at $526.99 a share in early trading.