M&A Talk Moves Stocks

Editor's Note: In this feature from Stockpickr, we highlight lists of stocks that have been upgraded by analysts or are experiencing activist investor situations or some other market-moving events.

Rumors of the Day: China's Citic Bank is interested in buying a stake in Bear Stearns(BSC Quote). Bank President Chang Zhenming confirmed the Chinese bank's interest during a Communist Party Congress in Beijing today, according to a report by Bloomberg. Bear President Jimmy Cayne has been rumored to be courting suitors to draw a cash infusion for the beleaguered brokerage firm. Shares of bear were climbing $3.19, or 2.6% to $123.88 in recent trading Tuesday.

AT&T(T Quote) has hired Goldman Sachs to explore a deal to acquire EchoStar(DISH Quote). Reports TheStreet.com: "The move adds more fuel to the deal developments first reported last month ... and comes as Citigroup issued an analyst note saying it expects that AT&T will pay $65 a share to buy EchoStar's TV business." AT&T traded in and out of t he red, while DISH jumped 4.3% to $ 51.15.

Today's Hot List: Saks(SKS Quote) traded higher Tuesday after Cramer speculated on Monday night's "Mad Money" that the luxury retailer could be for sale. Cramer was citing trade magazine Women's Wear Daily. The rumors sent Saks shares 6.7% higher to $19.98. ...