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 Juniper Networks (JNPR -0.69%) soared today by as much as 11% on reports that the company had hired JPMorgan Chase (JPM 0.06%) to help evaluate possible buyout bids.
So what: Benzinga questionably reported that a bid in the high $20's was on the table, and storage specialist EMC (EMC) was a potential suitor. It was highly dubious from the get-go, considering the implied size of the deal. Juniper currently trades with nearly a $9 billion market cap before any premium.
Now what: With EMC CEO Joe Tucci's upcoming retirement, it wouldn't make much sense for him to pursue such a large and risky acquisition (it would have been EMC's biggest ever), because he's on his expected way out the door within a matter of years. Additionally, Juniper doesn't have much exposure to data centers, further questioning the synergies it could have with EMC. Neither company officially commented, but a source told Reuters that the report was bogus.
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