Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Limelight Network (NASDAQ:LLNW) rose 11% Monday after the company rebuffed an unsolicited acquisition offer from what it calls a "questionable source."

So what: In a press release dated yesterday, Limelight announced it received the offer on Friday from privately held Tuition Build, Specifically, Tuition Build proposed to purchase and take private Limelight Networks for $644.7 million, or $6.55 per share -- a massive premium over the stock's current price of just $3.00 per share.

However, based on Limelight's subsequent inquiries to and independent investigations of Tuition Build, Limelight states its "management has concluded that Tuition Build does not have the experience, credentials, financial resources, or capability to complete the proposed transaction, and that Tuition Build's stated interest in acquiring Limelight Networks is not an actionable proposal." Unsurprisingly, Limelight suggests disregarding the offer.

Now what: Such an acquisition would have been great news for Limelight investors, who have already enjoyed a 52% rise in share price so far this year. Much of those gains game over the last month thanks both to significant insider stock purchases and a favorable Supreme Court ruling in a years-long patent infringement case. Even so, keep in mind Limelight is not only losing its largest customer, but also isn't expected to turn a profit anytime in the near-future. For now, that's why I still prefer watching Limelight Networks from the sidelines.

Leaked: Apple's next smart device (warning, it may shock you)
In the meantime, there are plenty of other promising small-caps in which you can put your money to work. For example, Apple recently recruited a secret-development "dream team" to guarantee its newest smart device was kept hidden from the public for as long as possible. But the secret is out, and some early viewers are claiming its everyday impact could trump the iPod, iPhone, and the iPad. In fact, ABI Research predicts 485 million of this type of device will be sold per year. But one small company makes Apple's gadget possible. And its stock price has nearly unlimited room to run for early in-the-know investors. To be one of them, and see Apple's newest smart gizmo, just click here!

Steve Symington owns shares of Apple. The Motley Fool recommends Apple. The Motley Fool owns shares of Apple. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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