Shares of Jersey City's Knight Trading Group (NasdaqNM: NITE) rose 7.63% on Friday on rumors that Merrill Lynch & Co. (NYSE: MER) might acquire the company.At the close of trading, shares of the top dealer of Nasdaq stocks were up $0.40 to $5.64. They earlier touched an intraday high of $5.99.In a report, The Wall Street Journal said the shares rose on speculation that Merrill Lynch was likely to acquire Knight.