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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 yellow pages publisher SuperMedia (Nasdaq: SPMD ) are flying more than 15% above last night's closing price today.
So what: This is another innocent bystander caught in the halo effect of Google considering buying local advertising specialist Groupon for as much as $6 billion. SuperMedia's yellow pages may not seem like a good fit for the anticipated buyout wave this move could spark, but the company is doing plenty of business online these days.
Now what: Just a week ago, SuperMedia fell 9% on Monday and then 8% on Tuesday. The stock is down 94% year to date. This week's spikes are not much comfort for existing investors, and any deal for this company would probably be a highly opportunistic, low-priced affair.
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