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What happened in the stock market today – The Motley Fool




After trying to revive early Monday morning, US stocks rose last year as investors continued to digest a stream of fresh corporate income. When the closing bell rang, both Dow Jones Industrial Average (DJINDICES: ^ DJI) and S & P 500 (SNPINDEX: GSPC) fell close to 1 %.

Today's stock market

Index Percent change Change Point Change
Dow (0.99%) (245.39)
S & P 500 %) ] (1[ads1]7.44)

Data source: Yahoo! Finance.

Technical shares led to the broader market, with Technology Select Sector SPDR Fund (NYSEMKT: XLK) fell 1.7%. However, the strength of leading consumer goods names helped to curb the losses, with Consumer Staples Select Sector SPDR ETF (NYSEMKT: XLP) increased by 1.2%.

For individual shares, Ford (NYSE: F) claimed some words from Wall Street while Red Hat (NYSE: RHT) shrunk that it was agreed to be acquired.

  Woman drawing photo on a wall of a big yellow fish eating a smaller fish

Image source: Getty Images.

Could the Ford share climb more than 30%?

Ford's benefits jumped as much as 6.8% early this morning, then settled to close 3.3% after Goldman Sach's analyst David Tamberrino upgraded the stock from neutral to purchase. He also increased his price target on automaker from $ 9 to $ 12, which marks an almost 34% premium from Friday's closing price – and it does not even include Ford's powerful dividend, giving an annual 6.5% return from Tamberrino claimed that while Ford earnings are likely to remain under pressure in the next year, the combination of a renewed product crash globally, as well as cost enhancements from strategic measures, will begin to grab.

"

The moment of the positive conversation is not random. Ford shares also beat up last week after the company had a solid income for the third quarter, repeated its full-year outlook, and appealed to investors' concerns over its ongoing restructuring initiatives.

Red Hat finds a buyer

Red Hat share increased 45.4% By IBM (NYSE: IBM) agreed to obtain open source cloud software manager for $ 190 per share in cash, good for a total business value of around 34 billion dollars. IBM's shares declined by 4.1% on the news.

IBM's chairman and CEO Ginni Rometty called the purchase a "game-switch".

"It's all about the sky market," added Rometty. "IBM becomes the world's # 1 hybrid cloud provider, offering businesses the only open source cloud solution that will unlock the entire value of the cloud for its businesses."

Of course, the deal is not very surprising considering IBM and Red Hat have been working closely for over two decades, especially with Big Blue offering support from Red Hat's Linux operating system in its early stages.

As such, it is equally surprising that IBM has promised to keep "Red Hat's independence and neutrality is open source development, legacy and commitment, current product portfolio and market strategy and unique development culture." This also involves maintaining Red Hat's current management team and operational facilities .

As stated, the acquisition has already been approved by both companies' boards, but it must still pass regulatory patterns and ensure the approval of Red Hat shareholders. Provided everything is as planned, it should close in the second half of 2019.



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