Tuesday , 16 April 2024

Red Hat, GM and US Bancorp jump while First Data skids

Stocks that moved substantially or traded heavily Monday:

Red Hat Inc., up $52.95 to $169.63

The open source software company agreed to be acquired by IBM for $34 billion in stock.

General Motors Co., up 48 cents to $33.13

Bloomberg News reported that regulators in China proposed cutting the country’s tax on imported cars.

Anadarko Petroleum Corp., down $2.97 to $55.87

The stocks of energy companies stumbled as energy prices fell.

Denbury Resources Inc., down $1.03 to $3.32

The oil and gas company agreed to acquire Penn Virginia Corp. for $1.7 billion in cash and stock.

First Data Corp., down $3.59 to $18.01

The e-commerce and payment services company posted a smaller profit and weaker sales than analysts expected.

Tower Semiconductor Ltd., down $3.77 to $13.98

The chipmaker’s sales fell short of Wall Street forecasts.

U.S. Bancorp, up 65 cents to $51.56

Bank stocks made larger gains than the broader market on Monday.

Eni SpA, up 13 cents to $34.63

Italian stocks climbed after Standard & Poor’s lowered its outlook on Italian debt but didn’t cut its credit rating.

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