NCR Corp., a maker of bank ATM machines, announced yesterday that their chief financial officer, Anthony Massetti, was leaving to join communications provider Avaya. NCR stock tumbled $1.72, or 12.6%, to close at $11.82.
Today, NCR’s stock is up on rumors that it might be taken over. For now it’s just that: rumors. Especially because it’s unclear who might be interested in buying the company.
Update: A Bloomberg story quotes analysts calling the rumor unsubstantiated, with one stating the obvious: yesterday’s drop in the stock price was probably an overreaction, so today the price is quite naturally bouncing back a little.
