There is definitely some interesting price action going on with EGHT the past couple of weeks. Its been very strong and I haven't seen any news releases or upgrades of note to explain the strength. Heck, at this point I'd be happy just to hear what the rumors are.
What do you mean "I haven't seen any news releases" ?
Try harder - look on yahoo page or 8x8 page.
These were very good news - how often you see CEO steps down to be just CTO and new blood brought in. Usually when CEO is stepping down he/she is really out and it counts as a red flag. Here it's the opposite. It means preparation for serious business expansion. Yeah, it took some time to sink in and there were some initial uncertainty, so the street reaction was delayed. It seems that 8x8 is going into next phase of business growth and some investors want to be part of it.