TheStreet: Novell Jumps 21% on News of SUSE Linux Deal
Nov 05, 2003, 16:00 (4 Talkback[s])
(Other stories by Ronna Abramson)
"Novell shares shot up Tuesday after the networking-software
company said it would buy SUSE Linux and receive a $50 million
investment from IBM.
"Contrary to typical pressure faced by an acquiring company,
shares of Novell soared 21.2%, or $1.28, to close at $7.33, in
trading volume that was more than 13 times the stock's average.
Shares of Linux competitor Red Hat ended at $13.58, down $1.80, or
11.7%. IBM ended at $89.14, down 54 cents, or 0.6%. Shares of SCO
Group, which has sued IBM for allegedly misappropriating its Unix
code in its Linux business, closed at $17.98, up $1.99, or