IONA Technologies Sets Monthly High On Acquisition Speculation

Monday, February 11, 2008; Posted: 08:31 AM

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(RTTNews) - Shares of IONA Technologies plc (IONA | news | PowerRating | PR Charts ) gained more than 22% on Friday after the company revealed that the company received an unsolicited preliminary expression of interest from a third company which may or may not lead to a formal offer. The stock gapped open significantly higher, but pared most of its gains throughout the morning. After leveling off, IONA closed at $3.37 or 62 cents.

Friday's gains pushed the stock above resistance and firmly above its 50-day moving average. IONA closed at its best levels since early January.

For full details on Iona Technologs Plc Adr (IONA) click here. Iona Technologs Plc Adr (IONA) has Short Term PowerRatings of 4. Details on Iona Technologs Plc Adr (IONA) Short Term PowerRatings is available at This Link.

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