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November 4, 2003

Novell Jumps 31% on News of SUSE Linux Deal

Novell shares shot up Tuesday after the networking software company said it would buy SUSE Linux and receive a
$50 million investment from IBM.

Contrary to typical pressure faced by an acquiring company, shares of Novell soared $1.93, or 31.9%, to $7.98 in trading volume that was more than 13
times the stock's average. Shares of Linux competitor Red Hat dropped $2.23, or 14.5%, to $13.15. IBM fell 51
cents, or 0.6%, to $89.17. Shares of SCO Group, which has sued IBM for allegedly misappropriating its Unix code
in its Linux business, gained $1.82, or 11.4%, to $17.81.

Link: thestreet.com

Category:

  • Linux
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