Newhall Land & Farming units surged again...

Newhall Land & Farming units surged again in active trading on the New York Stock Exchange amid speculation that management of the Valencia real estate developer might be mulling a buyout or other major transaction. The unit price rose $1.125 to a 52-week high of $56.375 in composite trading, giving it a gain of $6.50, or 13%, for the past seven sessions. Robert Wilke, Newhall’s executive vice president, said the company does not comment on rumors, but added “we don’t know what’s causing” the gains.