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Nasdaq Spotlight: Hot Tech Stock Spikes on Buyout Rumors
Read more: http://www.beaconequity.com/nasdaq-spotlight-hot-tech-stock-spikes-on-buyout-rumors-
2010-10-06/#ixzz11brsnc63
STEC Inc. (NASDAQ: STEC) is a Santa Ana, California-based technology company
providing enterprise-class
Flash solid-state drives for enterprise storage systems and servers that
companies utilize to retain and access
their critical data. The company designs its products specifically for
storage systems and servers that require
applications to run at a high level of operations per-second performance.
Shares of the company spiked 10% yesterday, spurred by rumors spread that
SanDisk (NASDAQ: SNDK) could
be interested in buying out the company. Though the rumors sparked trading
activity, this isn’t the first time
STEC has been involved in fruitless buyout rumors – Last month word on the
street was that Dell (NASDAQ:
DELL) could be a suitor for STEC, as well as rumors of a takeover by IBM (
NYSE: IBM).
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