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TheStreet: Novell Jumps 21% on News of SUSE Linux Deal

Nov 05, 2003, 16:00 (4 Talkback[s])
(Other stories by Ronna Abramson)

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"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 12.5%..."

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