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A rumor among traders that Microsoft could be looking to acquire LinkedIn (LNKD +2.8%) appears to be helping the beaten-up professional social networking leader rally on a quiet day for tech stocks. Volume is moderate - 2.3M shares vs. a 3-month daily average of 3.9M.
- Of note: Twitter has spiked on several occasions on similar kinds of rumors. In each case, the rumor didn't pan out.
- LinkedIn's Q1 report arrives on the afternoon of April 28. Shares are down 47% YTD, after getting crushed in February due to the weak guidance issued with a Q4 beat.