Don't let it get away!
Keep track of the stocks that matter to you.
Help yourself with the Fool's FREE and easy new watchlist service today.
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of electronic payments technologist Hypercom (NYSE: HYC ) jumped 10.6% this morning on above-average trading volume, setting fresh four-year highs in the process.
So what: The company is in the process of being acquired by larger e-payment specialist Verifone (NYSE: PAY ) , and the parent-to-be reported a stellar fourth quarter last night. Verifone is also setting multi-year price records today, and this is an all-stock acquisition.
Now what: The Verifone transaction isn't expected to close for another couple of quarters -- but don't expect any more pops like this one. The large discrepancy between Verifone's offer price and Hypercom's share price was based on misgivings about a lowball bid, complete with shareholder lawsuits. Those issues seem to be behind the companies now, and the acquisition is a near-lock after this sudden jump.
Interested in more info on Hypercom? Add it to your watchlist.