This story has been updated since 12:18 p.m. with information on Google and closing prices.
NEW YORK (
) --
Micron
(MU) - Get Report
shares soared 3.8% to $6.55 on Monday as investors digested the news about the chip maker's
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) - Get Report
weren't so lucky as the PC giant slipped 1% to $12.39 on Monday after announcing its
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
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
for
Netflix
(NFLX) - Get Report
,
and
, which all rely on
Amazon's
(AMZN) - Get Report
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
a vast array of products and services that directly compete with Amazon,
Microsoft
(MSFT) - Get Report
and
Apple
(AAPL) - Get Report
.
--Written by Nathalie Pierrepont in New York.
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