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.