PEGASUS COMMUNICATIONS CORP.NASDAQ-PGTV)

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Pegasus shares soared after a rumor of a News Corp. takeover of DirecTV Inc. parent Hughes Electronics Corp. came out last week. Although News Corp. denied the reports, investors began to snap up direct-broadcast satellite stocks-like Pegasus-in hopes that they might be the next targets. Pegasus shares shot up 12 percent on the day of the News Corp. reports, closing at $147.88 each. The rise continued the next trading day-March 27-but the euphoria began to wane March 29, when Pegasus shares dipped to $143.28. Still, the stock has gained 14 percent since March 20.

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