Ariad soars on takeout rumors

Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) declined to comment on rumors that it was approached by Baxalta Inc. (NYSE:BXLT) with an acquisition offer. The biotech surged $2.91 (42%) to $9.89 on Friday and ended the week with a market cap of $1.9 billion.

"At this point it's speculation and we don't comment on speculation," said Baxalta spokesperson Albert Liao. ...