<< Read Full Article
<< Read Full Article
Last night, Jim Cramer brought some clarity to the latest head-scratching movements of NetApp(NTAP Quote).
Toward the end of May, the Sunnyvale-based data storage company announced a bid to takeover Data Domain(DDUP Quote). The deal was priced at $25 per share, coming in at $1.5 billion net cash and equaling a 40% premium on Data Domain's price. Cramer said, typically, an acquirer will watch its stock price fall after a merger announcement.
Apparently, investors didn't get the memo. On the day of the announcement, NetApp closed at $17.34. Yesterday, shares closed at $20.69. Since the beginning of the year, NetApp is changing hands up nearly 50%. ...
Recent Comments
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,304.71 | 1,097.57 | 2,193.81 | 34.97 |
Oil *
73.80
|
|
DOWN
3.55
|
UP
1.50
|
UP
13.76
|
UP
0.10
|
10 Yr
3.50%
SPDR Gold
107.88
|
|
-0.03%
|
+0.14%
|
+0.63%
|
+0.29%
|
Data delayed 20 minutes |
Connect with TheStreet