BEA, markets continue strong through close

Bay Area companies were among those with rising stock prices Friday as the market closed with the Dow up 77.96 points, or .56 percent, and the Nasdaq up 33.48 points, or 1.21 percent. The S&P 55 was up 7.39 points at .48 percent.

After Redwood City’s Oracle Corp. (ORCL) made an offer to buy San Jose software firm BEA Systems Inc. (BEA) for $17 a share, BEA’s stock price rose sharply to close at $18.82, a more than 38-percent gain. BEA rejected the offer and activist investor Carl Icahn, BEA’s biggest shareholder, called for rival bids, according to Reuters. More than 217 million shares of the stock changed hands.

Other Bay Area companies whose stock saw a high volume of trade included Intel Corp. (INTC), with more than 48 million shares traded, as well as Sun Microsystems Inc. (JAVA), Oracle, and Apple Inc. (AAPL).

In pricing, BEA, Pleasanton-based grocery chain Safeway Inc. (SWY), Redwood City-based Electronic Arts (ERTS) and Santa Clara-based Applied Materials Inc. (AMAT) all saw their share prices increase more than 4 percent.

businessBusiness & Real Estate

If you find our journalism valuable and relevant, please consider joining our Examiner membership program.
Find out more at www.sfexaminer.com/join/

Just Posted

Sunset supervisor wants to keep Great Highway car free during crisis

Mar eyes empty roadway as ideal space for bicylists and pedestrians

Future uncertain for San Francisco Pride 2020 amid coronavirus

Mayor Breed casts doubt on large-scale gathering being held during crisis

SFUSD: City schools to stay closed for the rest of the year

District joins five other Bay Area districts in announcing closure

Bernie Sanders suspends his presidential campaign

Bernie Sanders on Wednesday suspended an anti-establishment presidential campaign that changed the… Continue reading

Most Read