ArcSight (ARST) Sees Wild Trading As Rumored Sale Hits a Rumored Snag
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After falling off a cliff into the close, shares of ArcSight, Inc. (Nasdaq: ARST) are recovering slightly in after-hours trading.
Today's selling was triggered by a report from DealReporter that said strategic buyers may not want to be be involved in an auction for the company. There may also be other strategic targets that are cheaper than ArcSight, the report said.
On August 26, 2010 the Wall Street Journal reported that Oracle (Nasdaq: ORCL) or HP (NYSE: HP) could be interested in acquiring the company for more than $40 per share. That news created a surge in the the stock from $28.23 to nearly $40 per share.
The company has yet to officially announce a sale and at its recent conference call the company would not comment on the "speculation" of a sale.
Today's wild action in the stock creates more questions than answers. It may finally be time for the company to officially announce that it is for sale.
Shares of ARST last traded at $35.70 in after-hours trading, up 2 percent from the Nasdaq close of $34.90.
Today's selling was triggered by a report from DealReporter that said strategic buyers may not want to be be involved in an auction for the company. There may also be other strategic targets that are cheaper than ArcSight, the report said.
On August 26, 2010 the Wall Street Journal reported that Oracle (Nasdaq: ORCL) or HP (NYSE: HP) could be interested in acquiring the company for more than $40 per share. That news created a surge in the the stock from $28.23 to nearly $40 per share.
The company has yet to officially announce a sale and at its recent conference call the company would not comment on the "speculation" of a sale.
Today's wild action in the stock creates more questions than answers. It may finally be time for the company to officially announce that it is for sale.
Shares of ARST last traded at $35.70 in after-hours trading, up 2 percent from the Nasdaq close of $34.90.
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