SAN FRANCISCO (MarketWatch) � Office-supply retailers Office Depot Inc. and OfficeMax Inc. advanced Tuesday on expectations of a merger while Herbalife Ltd. extended gains ahead of its quarterly earnings report after the closing bell.
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First Solar Inc. FSLR �shares added 5.5% as solar-energy stocks found favor with investors again on an improved outlook for the sector. See Trading Deck: Give solar stocks, but not ETFs, some love.
Shares of Office Depot Inc. ODP �gained 10%, coming off of earlier highs, while OfficeMax OMX �shares rose 21% after The Wall Street Journal reported on Monday that the two office-supply retailers are in advanced merger talks. LinkTextChunk((LinkChunk)chunk)
Staples SPLS �shares also rallied 12% on the Journal�s report. See: Staples wins if Office Depot and OfficeMax merge.
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Sealed Air Corp. SEE � shares jumped 12%. The food-packaging company on Tuesday reported fourth-quarter adjusted earnings of 34 cents a share, better than the 29 cents forecast by analysts in a FactSet survey.
DeclinersHumana HUM �shares fell 6.3% as the Centers for Medicare and Medicaid Services proposed a decline in 2014 rates for Medicare Advantage that was lower than the health insurer had expected. See: Humana falls on proposed Medicare cuts.
Top tickers trending$HLF: Herbalife HLF �shares are strong ahead of the company�s fourth-quarter results due after the closing bell. The nutritional-supplement company has been at the center of a public dispute between activist investor Carl Icahn, who disclosed late Thursday a 12.98% stake in the company, and hedge-fund manager Bill Ackman, who accused the company of being a pyramid scheme and shorted its stock. LinkTextChunk((LinkChunk)chunk)
Meanwhile, high-profile investor Daniel Loeb, who runs Third Point, has unwound some of his long position in Herbalife, according to news reports over the weekend. LinkTextChunk((LinkChunk)chunk)
Getty Images Enlarge Image Carl IcahnIn January, Herbalife said it expects to report fourth-quarter earnings of $1.02 a share to $1.05 a share. Analysts surveyed by FactSet forecast the company to earn $1.03 a share.
$GOOG: Google Inc. GOOG �shares rose to trade above $800 for the first time in the company�s history. See: Google sets new high above $800.
The gains were, in part, fueled by reports that the Internet company was looking into launching retail stores to sell Google-branded products. LinkTextChunk((LinkChunk)chunk)
@Mix_311: $GOOG the new $AAPL
@credittrader: Cue topeka with a $1111 target for $GOOG
$MSFT: Microsoft Corp. MSFT �was trending on Twitter as the software company officially launched its email service Outlook.com on Tuesday. The company said it would �upgrade� Hotmail users to Outlook.com. �The upgrade is seamless and instant for Hotmail customers; everything from their @hotmail.com email address, password, contacts, etc. will stay the same,� said the company in a statement.
@Ktr8der: HotMail? Last time I heard that term, ppl were putting out $1000 price targets on $QCOM. @CNBC #justsaying $MSFT
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