Time for your daily dose of trending tickers, the stocks we’re following based on your yahoo finance ticker searches.
Spring is the buying season for houses--and, this year, for companies that help build houses. Shares of Builders First Source (BLDR) surged more than 10% on Tuesday after the maker of building products announced plans to acquire rival ProBuild Holdings. Typically, shares of an acquiring company sink on news of a merger – but in this case they surged.
The companies said in a statement that now is the time to capitalize on the US housing recovery -- and bullish investors apparently agree.
Builders First Source says the merger will generate between $100 million and $120 million in cost-saving --you guessed it -- synergies. The deal is expected to close in the second half of 2015.
Falling demand for coal appears to be hitting Norfolk Southern (NSC). Shares slipped almost 6% after the railroad forecast disappointing first-quarter results, citing a sharp drop in coal exports as a major factor behind the weakness. The company doesn't report first-quarter results until April 29, but it offered a preview, which also cited lousy weather and a strong U.S. dollar as other issued that could depress first-quarter numbers.
Norfolk Southern said net income should come in around $1 per share with revenue dropping 5 percent from a year ago, to $2.6 billion.
In a joint announcement, the Finnish and French telecom equipment producers said they were in "advanced merger discussions" – but they also cautioned that a deal is not yet certain.
It's also unclear whether Nokia would acquire all of Alcatel-Lucent's assets or just its wireless business. And there's no word yet on valuation, which bankers no doubt are working feverishly on.
Those are your trending tickers. Tell us what you think in the space below or tweet us at hashtag trending tickers.
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