Shares of Harris Corp. rise on takeover speculation

Melbourne -based Harris Corp. 's stock price jumped nearly 5 percent Friday after a published report suggested the company may entertain buyout offers as part of a major corporate shift in strategy.

[pudbert_Savannah GA]

I'll bet you it will be Northrop Grumman that takes them over. Harris is a subcontracto for NG on more than a few major contracts.

If you own NG stock, you'd be smart to sell it before the takeover.

[tap19]

Boy those Allegences/Alliances are something else, Hunh Heh Heh Heh

Regards

[Greg]

As a employee I can say Harris is a great company that cares about its employees. I think it is just a rumor and a nice stock increase. If its true so be it, things change all the time.

[employer too]

Greg, wakeup man!

[UncleB]

As an employee, I now fear for my job. Harris will do whatever necessary to make the "bottom line" look good for potential buyers. I have no doubt this will mean layoffs. Woe be unto the employees.

[RGAG]

As a retired Harris employee (and one who was caught up in the big layoff of '95) am kinda glad I'm no longer there and worried about my future.

[Life goes on]

If this is a move to bump up stock price it is temporary at best. Check and see if the upper managers have sold large shares of stock. This may be a result of a conversation on the golf course in Suntree where a bunch of managers, with stock, thought up a way to make a short term profit on stock sales. Call buddies at The Wall Street Journal, wait for stock to go up, sell 10K shares, reap the gains and smile. This is just a theory. :-)