The 18% surge in the share price of computer retailer CompUSA Inc on Tuesday appears to have been spurred on by rumors that the company is a takeover target. The shares closed the day up $2.3125 at $14.9375 in heavy trading due to speculation that office supplies stores Office Depot Inc and Staples Inc were both interested in acquiring the company, according to analysts. Volume of 5.2 million shares was more than triple the daily average. A CompUSA spokesperson declined to comment, explaining that the company doesn’t comment on rumors or stock-price movement. The company would currently seem attractive to suitors, as most analysts believe its market capitalization is low compared to its revenues. The shares have been on a steady decline since last March, when they were trading at the $35 level. Earlier this week, the company reported that same-store sales for the December quarter were down 4.7% and gross margins could be down as much as a full point from the projected 14% as average selling prices continue to slip.
