Zayo Group's stock rallies on Alphabet, CenturyLink buyout rumors

Zayo Group Holdings Inc. shares rallied in the extended session Friday following chatter that Alphabet Inc. and CenturyLink Inc. were considering bids for the bandwidth infrastructure services company. Zayo shares surged 7.7% after hours, following a 0.8% decline to close at $26.70. The company ended Friday with a market cap of $6.32 billion, according to FactSet data. The stock is prone to move on buyout rumors lately, as recently as last Friday when shares closed up 7.9% at $27.65.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.