Mondelez Higher On Takeover Rumors

Mondelez International Inc MDLZ shares are trading higher by $2.00 (5.3 percent) at $44.83 in Thursday's session.

The issue spiked over $50.00 in after-hours trading on Wednesday, when German paper Bilanz reported that Kraft-Heinz KHC was in talks to acquire the company.

Although it has been reported by several different outlets that there is no ongoing dialogue between the companies, the issue is still trading higher in Thursday's session.

In a choppy session, the issue found support above the upper-end of the Wednesday's range ($43.60). On the upside, the intra-day high stands at $45.45, which is just shy of its
November 9 high ($45.63).