Wall Street Hubbub 9/13: A Higher Bid for ArcSight (ARST)?, Red Hat (RHT) Sees Action On Takeover Talk

September 13, 2010 4:00 PM EDT
Rumors breed on Wall Street. If you add in some M&A action - they flourish. Today a number of items kept traders rumor-chasing today.

  • Temple-Inland Inc. (NYSE: TIN) was higher today on rumors a private equity firm was looking to acquire the company. TIN is up 3.6 percent today on the chatter.
  • ArcSight (Nasdaq: ARST) agreed to be acquired today by HP for $43.50 per share, and immediately speculators bid the stock beyond that point on hopes of a higher bid. With a full auction of the company preformed before the sale news, so doubt if this will be the case.
  • Sourcefire, Inc. (Nasdaq: FIRE) +5.5% and Fortinet Inc. (Nasdaq: FTNT) +2.3% rose today on speculation they could be next after the ArcSight deal.
  • Red Hat (NYSE: RHT) rose on renewed takeover speculation. Shares are up 4.4 percent.
  • Other unsubstantiated takeover chattered surrounded Chico's Fas (NYSE: CHS), SunTrust Banks, Inc. (NYSE: STI), and Eastman Kodak (NYSE: EK).

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