Monday, March 28, 2011

Hot Stocks Of The Day: S, EBAY, GT, RSH

. Monday, March 28, 2011

By stockOzone team

Shares of the following companies are having unusual moves in U.S. trading.

Sprint Nextel Corp. (NYSE: S) on Monday officially came out against AT&T Inc.'s (NYSE: T) proposed $39 billion acquisition of T-Mobile USA. In a statement, Vonya McCann, Sprint's senior vice president of government affairs, said that if approved, the deal, "will harm consumers and harm competition at a time when this country can least afford it.

EBay Inc. (NASDAQ: EBAY) on Monday anounced that it has agreed to acquire GSI Commerce Inc. (NASDAQ: GSIC) in a cash-and-debt deal worth about $2.4 billion. The acquisition is expected to close in the third quarter of 2011.

Goodyear Tire & Rubber Company (NYSE: GT) plunged more than 5% after the company announced that it has commenced a public offering of $435 million of mandatory convertible preferred stock, subject to market and other customary conditions. The offering consists of 8.7 million shares with an offering price of $50 per share. The company intends to grant the underwriters of the offering a 30-day option to purchase up to an additional 1.3 million shares of mandatory convertible preferred stock.

Shares of Radio Shack (NYSE: RSH) rallied more than 5% after a report by AppleInsider’s Neil Hughes that he’s confirmed that the chain will start selling Apple’s (AAPL) iPad 2 tomorrow, citing anonymous sources.

Disclosure: Author does not own any of the stocks discussed here.

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