21.   Speculation began late yesterday that Ascend might buy Shiva, some investors said.

22.   Speculation has begun to mount that the government could either increase the amount of shares on offer or reserve part of it for small investors.

23.   Takeover speculation began to focus on WellPoint last year, after Blue Cross announced plans to restructure itself from a nonprofit organization into a for-profit company.

24.   Stock in BayBank was up sharply Tuesday as speculation has already begun that the bank might be a takeover candidate.

25.   Takeover speculation began boosting the stock one month ago.

26.   The decline puts the stock back in the range it was in before takeover speculation began a month ago.

27.   The decline began last Thursday, when rumors arose that the company might have inflated earnings and speculation began that executives would resign.

28.   The NBA speculation began shortly afterward.

29.   The speculation began in earnest last year when Ms. Walton moved from Arkansas to Mineral Wells, Texas, west of Dallas.

30.   The stock gained sharply three weeks ago when speculation about the proposed share offer began.