Is Berkley Being Wooed?

Even a penny or two in earnings disappointment can send a stock diving. So W.R. Berkley (BKLY) was expected to tumble when the propertyand-casualty insurer reported second-quarter operating earnings of 90 cents a share--less than the Street's consensus call of 92 cents. They didn't: Berkley instead jumped from 41 to 44. Why? Whispers of a takeover.

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