Symantec Spikes On Rumors Microsoft Might Make An Offer

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Symantec Spikes On Rumors Microsoft Might Make An OfferNetezza Up 11% On Takeover Rumors;

By Eric Savitz

Symantec (SYMC) shares are trading sharply higher on rumors that the security software company might be an acquisition target for Microsoft (MSFT). Briefing.com and several other stock rumors sites have noted the chatter on the stock.

As I reported in a post yesterday, Jefferies & Co. analyst Katherine Egbert asserted in a Tuesday research report that the company could be worth $19-$20 a share to a buyer, although she asserted that a deal for the company is not likely. Egbert wrote, however, that investors could push the company to make high-level management changes.

SYMC is up 84 cents, or 6%, to $14.81.