NOTE: Trending tickers is an index compiled exclusively by Yahoo Finance every day. It’s a list of companies whose stocks are seeing the biggest bump in interest as measured by your Yahoo Finance Ticker searches.
Here are five of today’s trending tickers: oil and gas producer Concho Resources (CXO), RF Micro Devices (RFMD), who is buying our third trending ticker, TriQuint Semiconductors (TQNT), Autohome (ATHM), and our pick today - Jos. A. Bank (JOSB).
The men’s clothier popping today after arch-rival Men’s Wearhouse upped it’s hostile bid for Bank to $63.50 a share, adding another 10% to the initial bid. A condition to the bid is for Bank to end it’s deal to buy outdoor sportswear company Eddie Bauer.
Men’s Wearhouse and Jos. A. Bank have been duking it out since October. Jos. A. Bank threw the first punch, starting with it’s initial bid of $2.3 billion for the much larger Mens Wearhouse last fall. Mens Wearhouse countered shortly thereafter with it’s own counterbid, which was swiftly rejected by Bank. The Eddie Bauer deal was supposed to bring this thing to an end, but Mens Wearhouse effectively upped the ante.
This deal has winner’s curse written all over it, whichever one of these companies ends up taking control they’re going to be stuck with a low-margin, highly levered retailer that specializes in throwing in bonuses in every purchase.
Those are your five tickers, BUT WAIT, there’s more. The S&P 500 (^GSPC) hit a new intraday high today, piercing through 1,851 for the first time. Markets have rallied more than 5% since bottoming out in early February.
That’s your trending ticker for today. We’ll see you back here tomorrow.
- Investment & Company Information