The Midday S&P 500: Sprint Gains on News of a Possible Acquisition by Softbank
By Anthony Shields Oct 11, 2012 2:50 pm
Plus, Dollar Tree loses value, while Fastenal is up.
MINYANVILLE ORIGINAL The S&P 500 (INDEXSP:.INX) broke its losing streak today by rising .22% to 1435.79 as of 2:15 p.m. EDT. A major driver of this increase was Sprint Nextel (NYSE:S), which gained 13.49% to $5.72 per share on the news that Japanese mobile carrier Softbank (TYO:9984) is reportedly in talks to acquire the company. Also up is industrial supply company Fastenal (NASDAQ:FAST), which rose 9.05% to $46.15 per share after an announcement it hit its EPS estimate. Today’s big loser is Dollar Tree (NASDAQ:DLTR), which fell 7.44% to $43.36 per share.
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