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Aruba Networks Soars On Rumored Talks With Hewlett-Packard; Ruckus Wireless Up Too

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Aruba Networks, Inc. (NASDAQ: ARUN) shares soared late Wednesday on a rumor that it could get acquired by Hewlett-Packard Company (NYSE: HPQ).

Aruba, which makes equipment for Wi-Fi networks, changed hands recently at $21.22, up more than 15 percent.

Hewlett-Packard was down more than 10 percent to $34.58.

A deal could be announced next week, according to a report by Bloomberg, which cited "people with knowledge of the matter."

Aruba has a current market capitalization of about $2.4 billion versus Hewlett-Packard's $70.22 billion.

Ruckus Wireless Inc (NYSE: RKUS) shares, meanwhile, have risen 5 percent in response to the rumor.

Posted-In: BloombergNews Rumors Management Movers

 

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