Sony’s Stock Rallied Then Retreated After Apple Acquisition Rumor

Sony Corporation (NYSE:SNE) shares rose about 3% yesterday but then retreated again after speculation that Apple Inc. (NASDAQ:AAPL) may buy them out and has them as a potential target. The source of the rumor was a report on Barron’s, written by Eric Savitz. Savitz responded to the speculation by saying “In the piece I noted that the company could do something aggressive, like bidding for Adobe, Sony or even Disney. But that was pure speculation. Yeesh.” Apple has about $51 billion in cash. [Reuters]