Lincoln Financial Down On Light Volume After Takeover Rumors Spark Interest (LNC)

Shares of Lincoln National Corp. LNC are slightly pulling back this morning, losing 1.5%, just one day after gaining 10% on unconfirmed rumors it was subject to a takeover. The insurance company, based in Radnor, PA, gained more than $700 million in market cap on Friday. Lincoln is holding onto the majority of the gains it made on Friday. Volume was also exceptionally strong, having traded over 13.9 million shares. This was more than double the daily volume, obviously indicating that the rumors were more than just empty promises. Shares of Lincoln Financial are giving back 36 cents this morning to trade at $23.34.