Rackable Makes No Comment On Stock Rise

 |  Includes: DELL, RACK
by: Eric Savitz

Rackable Systems (RACK) has no comment on the recent jump in the price of its stock, according to the company’s PR firm. As I noted earlier, there recently have been rumors that Dell (NASDAQ:DELL) might be interested in acquiring the company.

The site smallcapinvestor.com reports that “shares are trading up after online options tracking services reported increased call option activity that may be an indicator of an acquisition offer coming or of further shareholder-friendly developments,” and that Rackable was also mentioned on CNBC Tuesday morning as a potential takeover candidate.

Rackable Tuesday jumped $1 to $13.69, after gaining 53 cents Monday; the shares backed off 19 cents in after hours trading. Volume Tuesday totaled 8.5 million shares, or nearly four times its recent daily average.