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

Sen. Kamala Harris chosen as Joe Biden’s running mate

Joe Biden has chosen Sen. Kamala Harris of California as his running… Continue reading

Supervisors fear Tenderloin lawsuit settlement sets bad precedent

UC Hastings case pushed city to move more homeless residents into hotels or shelters

UCSF police seek suspect in killing at Inner Sunset campus

UC San Francisco police are investigating the death of a person who… Continue reading

Mayor Breed unveils $446.1 milion COVID-19 budget proposal

Mayor London Breed unveiled the budget proposal Tuesday for The City’s COVID-19… Continue reading

‘Street Crisis Response Team’ to respond to behavioral health calls

San Francisco Mayor London Breed on Tuesday announced the creation of a… Continue reading

Most Read