EZchip Shares In Play Following Cancellation Of Investor Conference
Shares of EZchip Semiconductor (NASDAQ: EZCH) are experiencing a strong rise in price following an announcement from a company spokesperson, stating that the company will not be present at an upcoming investor conference.
In the past, traders have sometimes speculated that canceling of such events could indicate something larger than the conference itself, such as an upper level management change or even a large deal.
Investors may remember a similar event earlier this year in which Darden Restaurants cancelled investor conferences in order to meet activist investors interested in taking a stake in the company.
Likewise in March, Audience cancelled an investor conference, then a few days later announced a $15 million share buyback.
Shares of EZ Chip traded recently at $26.45, up 8.4 percent.
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