Time for your daily dose of trending tickers, the stocks that you're tracking as measured by Yahoo finance ticker searches:
Intel (INTC): The world's largest chipmaker surges to a new ten-year high, up over six percent today. Powering the move is a lift to the company's second-quarter revenue forecast, leading to annual sales that will increase for the first time since 2011. The company says 2014 is finally the year that corporate America spends money on long overdue upgrades to PCs and servers. Nothing is impossible. There has been a demonstrable rise in corporate spending on things other than share buybacks this year. Capex growth would certainly help Intel. As for the stock it hasn't seen these levels in more than a decade. Looking at the 15-year chart it's pretty clear the stock has built a pretty good base technically. Hats off to shareholders.
Express (EXPR): The mall staple for high schoolers craving that Euro-trash look popping as Sycamore Partners discloses a nine percent stake in the company. Furthermore, Sycamore says they want to buy-out the company outright. Express responded by adopted a poison pill defense. This isn't Sycamore's first dance with a retailer, it previously purchased Hot Topic for about $535 million, and also acquired a stake in Aeropostale. Sycamore is a sharp group of folks but they didn't become successful leaving a lot of meat on the bone for other equity holders. Note that Aeropostale shares have given back all the huge gains they saw the day after Sycamore bailed out that retailer.
Yelp (YELP): The social media review site for restaurants and all types of local businesses is soaring thirteen percent today, on the heels of Priceline's $2.6 billion all cash offer for Opentable (OPEN). The huge move for opentable is sending Yelp shareholders into a tizzy, but the question remains if this is really the going price for sites like Yelp, Grubhub, etc. While the potential for a buyout can be questioned, one thing can be said for sure watching these stocks soar today: If you're shorting these web 2.0 names because you don't think the valuations make sense, you need a new thesis because companies like Priceline (PCLN) beg to differ.
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