BEA Systems stock bucks Wall Street's malaise
BEA Systems stock closes up above $17, going against Wall Street malaise.
BEA Systems investors apparently still hold the faith that a buyout deal will go through--whether it's with Oracle is another matter.
On a day when Wall Street took a hammering, with the Dow Jones falling a sharp 360 points to 13,300.02, BEA's stock rose 1.18 percent to close at $17.08 a share.
At that price, BEA's stock is back to the level it was trading when Oracle yanked its $17-a-share buyout price off the table a little over a week ago.
Previously, the stock sunk to $16.50 a share post-Oracle-pullout and kissed the $17 mark a few times since then. But Wednesday, it closed beyond Oracle's former offer price.