Tiffany Sale Rumors Resurface

Tiffany & Co. is again being rumored as a takeover target, according to a report Thursday in The Wall Street Journal.

The newspaper reports that trading in the New York jewelry company increased to four times the normal level. Traders showed particular interest in October calls that convey the right to buy Tiffany stock for $40.

Tiffany shares closed Wednesday at $36.84, up 91 cents, or 2.5%. On Thursday as of 1:17 p.m., the stock is trading at $37.38.