Dead Thread, Hot Stock! Excerpted & edited from today's WSJ:
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DJ Electroglas Hits 52-Week High Amid Takeover Rumors
NEW YORK (Dow Jones)--Electroglas Inc. (EGLS) shares hit a 52-week high Wednesday amid speculation that the company is a takeover target.
sources point toward chip equipment maker KLA-Tencor Corp. (KLAC) as the possible suitor.
Earlier, popular stock-rumor Web sites Jagnotes.com and Stockrumors.com reported that Wall Street is
whispering a $33 a share bid for the Santa Clara, Calif., company.
Electroglas recently changed hands at 24 3/8, up 1 5/16, or 5.7%, on Nasdaq volume of 445,600 shares, compared with a daily average of 165,300. Earlier, the stock climbed as high as 24 3/4, eclipsing the 52-week record of 23 1/2 set Tuesday.
Warburg Dillon Read analyst Byron Walker maintained that the run-up results from Electroglas' strong fundamentals. The company has a promising pipeline of next generation products and is seeing strong sales of its existing products, he said.
Spokesmen from Electroglas and KLA-Tencor were not immediately available for comment.
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