when you have a good volume like this, it typically is calling for good news or bad news. In this case, when we are up, I'd say someone on the inside knows something or leaqked it out. Watch for something good to happen soon.
I don't think it's a dead cat bounce, but I do think it's an oversold bounce on high volume because of the extremely high volume selloff yesterday. Yesterday's action - especially combined with the day before - was far too extreme, so the market is correcting back, that's probably all. This volume and price action suggest that the panic selling is over for now - nothing more. If there were about to be a buyout announcement, AND people knew - it would be spiking more and there would be very heavy call option trading. Doesn't mean there isn't news, just that this kind of volume and price action fit most simply with the reversion to the mean after a panic.