Priceline Buys Open Table

The stock market is up cautiously at midday. One laggard is Bed Bath & Beyond ($BBBY) which dropped to another 52-week low today. The home furnishings store will report earnings later this month, and I don’t think investors expect much.

One of the stocks on My Watch List, Open Table ($OPEN), is up 47% today on the news that it’s going to be bought out by Priceline ($PCLN) for $2.6 billion.

A former Buy List stock, Intel ($INTC), is up 6.9% today after the company raised its revenue guidance. This surprised a lot of tech watchers. The stock is at a 10-year high today.

Not much in the way of economic reports today. Consumer confidence slipped to 81.2 from 81.9 last month. The Street was expecting 83.0. One surprise is that wholesale prices dropped 0.2% last month. Wall Street had been expecting a gain on 0.1%. Core PPI fell 0.1%. The CPI report is next week.

Posted by on June 13th, 2014 at 12:21 pm


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