Commercial Metals Flying On Takeover Rumors (CMC, NUE)

CNBC reported in its real time flash that Commercial Metals (NYSE: CMC) is up over 10.27% on significant volume. Commercial Metals is reported to be number one on the Russell 1000. The volume is more than its current 10 day average. Even the call to put ratio is huge at 20 to 1 as of right now.

Matt Nesto reported that clearly investors are looking for upside in this material company. He also stated that Nucor (NYSE: NUE) might be interested in this company. The report ended by stating that BlackRock (NYSE: BLK) is the number one shareholder for Commercial Metals.