AsiaInfo-Linkage(ASIA) is a provider of telecommunications software solutions and information technology, related services in the People's Republic of China. This stock is trading up 11.6% at $12.37 in recent trading.
Today's Volume: 620,000
Average Volume: 350,878
Volume % Change: 381%
Shares of ASIA are soaring higher today after Reuters reported that private equity funds including Silverlake, TPG Capital and Primavera Capital are considering bids for the company. Sources with knowledge of the situation told Reuters that the deal could be worth more than $1 billion.
From a technical perspective, ASIA is exploding higher as the stock moves back above its 50-day moving average of $11.44 with monster volume. This move is quickly pushing ASIA within range of triggering a near-term breakout trade. That trade will hit once ASIA takes out some near-term overhead resistance at $12.98 with high-volume. At last check, ASIA has hit an intraday high of $13.00 but has since then pulled back to near $12.40.