Shares of Clovis Oncology (CLVS) were volatile in trading on Tuesday due to takeover speculation. The rumor helped to propel the stock well above $56 around the middle of the session, but an overall market selloff after than pulled shares lower. CLVS has been the subject of takeover speculation before, and odds favor more M&A action this year due to take reform, so CLVS is a viable candidate. CLVS shares closed down -0.81% at 53.71 for the session. Keep an eye on the stock for further rumors.