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Stock Alert: Linde Plc Rises 8%

Shares of Linde plc (LIN) are rising more than 8 percent in the morning trade on Friday at $170.73 despite no company-specific news.

The stock has traded in a range of $157.00 to $227.85 in the past 52 weeks.

U.S. stocks are rallying on Friday, a day after the Dow suffered its biggest one-day percentage drop since the stock market crash of 1987.

Linde plc is an Irish-domiciled multinational chemical company formed by the merger of Linde AG of Germany and Praxair of the United States. In February, Linde reported a plunge in its fourth-quarter net income to $511 million or $0.95 per share from $2.98 billion or $6.45 per share last year.

However, excluding merger-related costs, adjusted pro forma income from continuing operations were $1.89 per share, compared to $1.51 per share in the prior-year quarter.

Reported sales for the quarter grew to $7.08 billion from $5.80 billion last year. The company's shares had touched a new 52-week high after reporting the upbeat results.

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