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Friday, October 29, 2010

They know nothing! STX still up for grabs.

Shares of Seagate Technology are rebounding Friday as the company denied the rumors that the privatization deal was dead. Seagate Technology said that deals are still in talks and nothing has been finalized yet.

STX was down sharply on Thursday as much as 12% at one point as the rumors made their way around Wall Street. However, today the shares have reversed in the other direction up nearly 6% in today's trading session.