Welcome to a very special Record High edition of Trending Ticker. That's right: for the first time since the beginning of April both the Dow Jones Industrial Average and the S&P500 are making all-time highs simultaneously...at least for now. That doesn't mean much in the grand scheme of things but it's better than a poke in the eye with a sharp stick and a marked improvement over where we stood a couple weeks ago. It's the little the things, people.
Here are the stocks trending today based on your Yahoo finance ticker searches:
Keurig Green Mountain (GMCR) - Shares of the coffee and soon soda machine maker are up more than 10% today on news the Coca-Cola (KO) will increase their stake in the company from 10% to 16%. The news comes just months after Coke and Green Mountain announced plans to partner on Keurig's new home beverage system. Once a favorite among short sellers, Kuerig's shares are up about 50% since the deal with Coke was announced. According to FactSet there were 14 million shares short at the end of April; suggesting about a $170 million roasting for the bears.
Direct TV (DTV) - The satellite TV provider is being bouyed by almost a percent and a half on continued news of talks of a sale to AT&T (T). The reported deal could be worth as much as $50 billion. The Wall Street Journal reports that the two companies are discussing ways for AT&T to make the purchase using a mix of cash and stock that would minimize the combined company's debt obligations and keep it's credit rating intact. It's widely assumed AT&T is looking to minimize the negative competetive threat of Time Warner (TWC) and Comcast (CMCSA) should that deal be approved.
Elizabeth Arden (RDEN) - It's not a happy day for everyone. The beauty supply company is getting beaten with an ugly stick. Shares are off by more than 15% after the company reported an unexpected revenue drop of some 20% on lower demand of its perfumes. The company has hired Goldman Sachs (GS) to pursue strategic alternatives. While a deal is possible given Arden's decent balance sheet at solid margins there isn't a lot of demand out there for companies in the space. Perhaps the best strategic alternative is sending gift baskets to all the shareholders and analyts Arden is crushing today.
- Consumer Discretionary