NEW YORK (TheStreet) -- Shares of Time Warner (TWX) have seesawed between being slightly lower and slightly higher in after-hours trading following rumors that the company would be taken over by Google (GOOGL).
Doug MacMillan, a technology reporter for the Wall Street Journal, said on Twitter: "Time Warner's [CEO] Jeff Bewkes lays to rest today's buzzy Sun Valley rumor that Google is in talks with TWX about an acquisition: 'They're not,' according to theflyonthewall.com.
Time Warner stock closed up 2.35% to $72.41 on very heavy trading volume today.
TheStreet Ratings team rates TIME WARNER INC as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
"We rate TIME WARNER INC (TWX) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its increase in stock price during the past year, impressive record of earnings per share growth, compelling growth in net income, revenue growth and largely solid financial position with reasonable debt levels by most measures. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."