Micron, Dell: Tech Winners & Losers
This story has been updated since 12:18 p.m. with information on Google and closing prices.
NEW YORK (TheStreet) -- Micron (MU) shares soared 3.8% to $6.55 on Monday as investors digested the news about the chip maker's acquisition of bankrupt Japanese rival Elpida Memory Inc for $750 million in cash and $1.75 billion in future installment payments.
In a related deal, Micron took a 24% stake in Taiwanese chip maker Rexchip Electronics for about $334 million. Elpida and Rexchip's manufacturing capabilities will roughly double Micron's capacity to make DRAM memory chips, a key component for smartphones and mobile devices.
Investors in Dell (DELL) weren't so lucky as the PC giant slipped 1% to $12.39 on Monday after announcing its acquisition of software specialist Quest Software (QSFT) for $2.4 billion.
Dell had been in a bidding war with buyout group Insight Venture Partners for months. Insight Venture Partners offered to buy Quest for $25.75 per share, or nearly $2.17 billion, earlier this year. Concerns about cloud technology swirled on Monday after a violent storm caused server-related outages for Netflix (NFLX), Instagram and Pinterest, which all rely on Amazon's (AMZN) Web services unit. However shares of Amazon held strong on Monday, up 0.42% to $229.32. Netflix fell only 0.93% reaching $68. Google rose slightly on Monday, gaining just 0.07% to close at $580.47 in light volume trade. Last week, at its annual I/O conference, the company announced a vast array of products and services that directly compete with Amazon, Microsoft (MSFT) and Apple (AAPL). --Written by Nathalie Pierrepont in New York. >To submit a news tip, send an email to: tips@thestreet.com. Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices. >Contact by Email. Follow @nrpierrepontSelect the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
Product Features:
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Dividend Stock Advisor
TRY IT FREENew! $49.95/yr
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Product Features:
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Stocks Under $10
TRY IT FREEDavid Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
Product Features:
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
- Weekly roundups
Real Money
TRY IT FREE24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
Product Features:
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
Real Money Pro
TRY IT FREEAll of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
Product Features:
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
Product Features:
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV
