CNET Networks (NASDAQ: CNET) is recently up 6 cents to $8.28. Recent unconfirmed chatter has resurfaced that CNET could be sold. Barry Briggs, former president, COO and the third largest shareholder, is encouraging a sale. CNET, a leading independent source of product information with detailed content on technology products, will report EPS after the close today. CNET entered into a credit agreement on October 17, whereby the company can borrow up to $250M. The credit agreement could provide the capital for a special dividend, a Dutch Auction or buy back of stock from Barry Briggs. CNET November option implied volatility of 60 is above its 26-week average of 40 according to Track Data, suggesting larger price risks.
Daily MA& Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.
