Xilinx-AMD Deal Talk Sends Nasdaq Surging; Mizuho Bids Up eBay
Stocks were headed higher on Friday, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) once again led the way. After some fits and starts, it now looks as though there might indeed be a federal government stimulus package before the election, and market participants were pleased to see potential targeted support for particularly hard-hit industries. As of just before 3 p.m. EDT, the Nasdaq was up more than 1%.
Getting the attention of investors early Friday were reports that Xilinx (NASDAQ: XLNX) could be an acquisition target, which sent shares of the programmable chipmaker higher. eBay (NASDAQ: EBAY) also saw solid gains following favorable comments from stock analysts.
Xilinx jumped 14% Friday afternoon in the wake of takeover rumors. According to reports, Advanced Micro Devices (NASDAQ: AMD) might emerge as the potential bidder in a purchase that could bring a price tag of $30 billion or more. AMD shares were down 4%.
Source Fool.com
