This story has been updated since 12:18 p.m. with information on Google and closing prices.

NEW YORK (

TheStreet

) --

Micron

(MU) - Get Report

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) - Get Report

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) - Get Report

,

Instagram

and

Pinterest

, 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

announced

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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