OCZ Tech (OCZ) Up Again on Chatter; Traders Eye Seagate (STX) into Q4 Results
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OCZ Technology Group Inc. (Nasdaq: OCZ) is up early again Monday following continued speculation that it might get a bid from Seagate Technology (Nasdaq: STX).
Last Friday, rumor spread that Seagate might make a $1 billion bid for OCZ, sending shares 30 percent higher. At $7.08, OCZ holds a market cap just shy of $500 million, meaning the deal would be a substantial one.
Traders are anticipating something from Seagate after the market closes Monday, when the memory giant is slated to report . Currently, the market sees earnings growing significantly from last year's results, to $2.51 per share. Seagate issued preliminary numbers on July 5th.
OCZ is up about 8 percent early, while Seagate is 0.7 percent better.
Last Friday, rumor spread that Seagate might make a $1 billion bid for OCZ, sending shares 30 percent higher. At $7.08, OCZ holds a market cap just shy of $500 million, meaning the deal would be a substantial one.
Traders are anticipating something from Seagate after the market closes Monday, when the memory giant is slated to report . Currently, the market sees earnings growing significantly from last year's results, to $2.51 per share. Seagate issued preliminary numbers on July 5th.
OCZ is up about 8 percent early, while Seagate is 0.7 percent better.
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