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 @nrpierrepont
