Today's Best Market Rumors (10/8/2009) (XRTX)(CLWT)(CTIC)(CIT)(BRCD)(ACP)(AAPL)(GOOG)

Updated throughout the day.

Updated at 4.24 PM EST:  Xyratex (NASDAQ:XRTX) is up 14% today, another tech stock in the buyout rumor mill.  (Barron’s)

Updated at 2.12 PM EST: Euro Tech Holdings (CLWT) is up 40% on two million shares traded, about twent times it normal volume, on rumors that Chinese water companies will report better than expected sales for the last quarter  (various)

Updated at 2.05 PM:  Cell Therapeutics (NASDAQ:CTIC) continues to drop sharply down another 5% today on rumors of poor upcoming financial results or trouble with a drug trial  (various)

Updated at 1.50 PM EST:  Hedge fund Little Bear Investments, a noteholder in CIT (NYSE:CIT), is tying to get a group of bondholders to lobby for a larger equity stake in the commercial lender’s debt restructuring. (The Deal)

Updated at 1.35 PM EST: Microsoft (NASDAQ:MSFT) has cut its legal budget by 15% (LegalWeek)

Updated at  1.25 EST: Speculation has come up again that Brocade (NASDAQ:BRCD) will be sold to Hewlett-Packard (NYSE:HPQ). (Barron’s)

Update at 12:45 PM EST: NVIDIA Corporation (NASDAQ: NVDA) is currently halting graphic chipset production on compatibility innew Intel (INTC) newest microprocessors because of licensing disput. (WSJ)

A review of Citigroup (NYSE:C) management by consultant Egon Zehnder suggested that the chief administrative officer and vice chairman should go  (CNBC)

Anadarko Petroleum (NYSE:ACP) and Tullow Oil are likely to be acquisition targets by larger oil companies.  (The Deal)

Apple (NASDAQ:AAPL) may open as many as 1,000 retail stores in the next three years  (MarketWatch)

Google’s (NASDAQ:GOOG) Android operating system will overtake the Apple iPhone in handset market share by 2012 (Apple Insider).

Twitter is talking to Microsoft (NASDAQ:MSFT) and Google about selling them data on the activity of its users  (AllThingsD)

Douglas A. McIntyre