The stock market is up Tuesday, with the Dow Jones Industrial Average up 0.30%, the Nasdaq up 0.23% and the S&P 500 up 0.38%. Today’s winners are all office-supply store chains that are trending upward due to merger talks. Today’s losers are a search engine company and an Internet service provider that reported lackluster fourth-quarter financials.
These are Tuesday’s market winners and losers.
Biggest Winners
Shares of OfficeMax Inc. (NYSE: OMX) are up 26.93% to $13.65 on trading volume of 5.8 million shares. Reports have surfaced that the company is in advanced merger talks with rival Office Depot Inc. (NYSE: ODP), and a deal could be announced as early as this week. Before Tuesday, the 52-week high was $26.70. In addition, shares of Office Depot are up 14.60% to $5.26 on trading volume of 31.5 million shares. Before Tuesday, the 52-week high was $4.87.
Shares of Staples Inc. (NASDAQ: SPLS) are up 13.44% to $14.69 on trading volume of 27.9 million shares. The company shares rose following the news that its rivals, OfficeMax and Office Depot, were engaged in advanced stage merger talks. The 52-week high is $16.93.
Biggest Losers
Shares of Yandex N.V. (NASDAQ: YNDX) are down 11.25% to $22.71 on trading volume of 4.2 million shares. The Russian Internet search engine firm’s fourth-quarter net income of about $89.4 million was below Wall St. estimates of about $98.3 million. The 52-week low is $16.65.
Shares of EarthLink Inc. (NASDAQ: ELNK) are down 10.97% to $6.17 on trading volume of 1.7 million shares. The Internet service provider essentially broke even in the fourth quarter, while Wall St. expected a profit of a penny a share. The 52-week low is $5.94.
Follow Samuel on Twitter: SWeigley
ALERT: Today Could Be Your Best Shot At Early Retirement (Sponsored)
If you want to retire before 65, pay attention. Study after study has shown that the longer you stay invested, the better your chances at an early retirement.
Every day that goes by without saving and investing for tomorrow means more to earn and save later. Don’t waste any more time and get started with Robinhood today. The app makes it easy to buy and sell stocks, mutual funds, trade options, and even cryptocurrencies.
Sign up today — click here to start your journey.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.