This week Monterey Resources of Bakersfield, Calif. saw its stock price rise $5.32 a share to $20.38 when Texaco agreed to acquire the oil and gas company for $21 a share in stock. Texaco will also assume about $285 million of debt. Monterey’s stock closed at $20.56 Friday, up from last week’s close of $15.06. Monterey is traded on the New York Stock Exchange. … On the NASDAQ, shares of Benthos, a North Falmouth, Mass., underwater equipment maker, jumped $8.75 Monday to close at $26.50 after an article in Barron’s magazine included a positive note on the company. Benthos’ stock closed at $26.75 on Friday, up from last week’s close of $17.75.
Wells Fargo & Co.’s stock fell $13 to $254 a share Thursday after inaccurate reports circulated that investment giant Berkshire Hathaway had liquidated its stake in the bank. Wells Fargo’s stock closed at $261.19 on Friday, up from last week’s close of $259.56 on the NYSE.
And on the NASDAQ MCI Communications’ stock fell $6.13 to $30.56 a share Thursday as British Telecommunications reviews whether it’s paying too much to buy MCI, raising doubts about the $22 billion deal.
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