Could Case Buy Back AOL?

Steve Case may be trying to buy back AOL from Time Warner , according to a news report.

The New York Daily News reported Tuesday that Case, the former AOL chairman, may be trying to raise $10 billion to buy AOL from Time Warner.

But a “source close to the media empire” says Time Warner may want “far more” than $10 billion for the online property, the Daily News reports.

The price tag – coupled with the fact that AOL is on the mend and Time Warner doesn’t want to be on the wrong end of a deal with Case again – may keep any deal from happening. But it sure is fun to speculate.

The broader market gained on an in-line consumer sentiment report and optimism ahead of Friday’s March unemployment report.

The Nasdaq rose 8 to 2000, the S&P 500 gained 4 to 1127, and the Dow rose 52 to 10,381. Volume declined to 1.31 billion shares on the NYSE, and 1.61 billion on the Nasdaq. Advancers led 21-10 on the NYSE, and 18-12 on the Nasdaq. Upside volume was 72% on the NYSE, and 60% on the Nasdaq. New highs-new lows were 187-6 on the NYSE, and 129-13 on the Nasdaq.

Intergraph surged 16% after settling patent lawsuits with Intel and Dell .

Intel, meanwhile, lost 1% on a downgrade based on slowing notebook demand.

Microsoft slipped on delays in its next version of Windows.

AskJeeves surged 10% on an upgrade.

Accenture rose on better than expected results. The company also announced that its CEO is stepping down.

Autodesk and Silicon Storage climbed after raising guidance.

AT&T slipped on a VoIP lawsuit.

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