Time Warner shares spiked so fast that trading was briefly halted just before 11 a.m. ET for about 10 minutes. Time Warner surpassed its 52-week high and was hovering around $93 at noon ET. AT&T shares have dropped on the news, falling about 3% to around $37 in trading Friday.
Source: Time Warner Shares Soar as AT&T Acquisition Talks Heat Up | Variety