Thursday, September 17, 2009

WFR Climbs On Takeover Chatter

The stock was up $1.35 yesterday (7.76%) and is down seven cents this morning. From Tech Trader Daily:

MEMC Electronic Materials (WFR) shares are trading higher today on vague rumors that the company might be a takeover target. The rumors have been picked up by and, among other places; but there doesn’t seem to be much substance to the chatter. I’d note that WFR is a frequent subject of speculation, sometimes more specific than others: back in March there was talk that the company might be acquired by BASF. The Street was rightly skeptical that time, and of course, no deal ever materialized. I can’t see why you should have any more confidence in the buzz this time.

WFR today is up $1.17, or 6.7%, to $18.56.