Akamai: After-Hours Trading

NEW YORK ( TheStreet) -- Shares of Akamai Technologies ( AKAM) surged in Wednesday's extended session as speculation flared up naming the company as a potential acquisition target for Google ( GOOG).

The stock was last quoted at $25.61, up nearly 10%, on volume of 1.2 million, according to Nasdaq.com. The shares closed the regular session at $23.37, tacking on 2 cents. The after-hours high is $27.35.

A Business Insider report shortly before the close cited numerous unnamed sources in the advertising technology industry as saying Akamai is the name that keeps coming up while chasing a rumor that Google may be pursuing a deal. The report doesn't mention any potential terms for a deal, and notes that a "high-level source" at Akamai shot down the speculation.

Akamai shares are down more than 50% so far in 2011, as the developer of online video delivery technology has seen topline growth stall, and the company has been mentioned as a possible takeover target in the past.

Google is slated to report its third-quarter results after the closing bell on Thursday, and its stock ticked 0.4% lower in late trades to $546.55 on volume of less than 50,000. Akamai is expected to deliver its third-quarter numbers on Oct. 26, with the average estimate of analysts polled by Thomson Reuters calling for a profit of 33 cents a share in the September-ended period on revenue of $279.1 million.

-- Written by Michael Baron in New York.

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Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

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