Companies whose shares are expected to trade actively in today’s session are Humana Inc. (NYSE:HUM), Office Depot Inc (NYSE:ODP), OfficeMax Incorporated (NYSE:OMX), Yandex NV (NASDAQ:YNDX), Medtronic, Inc. (NYSE:MDT), Google Inc (NASDAQ:GOOG) and Staples, Inc. (NASDAQ:SPLS).
Humana Inc. (NYSE:HUM): Shares of the health insurer slid 9.53 percent to $70.56 in early trading due to an unfavorable proposal by the government on Medicare Advantage rates in 2014. Analysts said the rates were worse than expected. Other health insurers were also trading low on Tuesday. Shares of UnitedHealth Group Inc. were also down 3.37 percent to $55.38 in the early session.
Office Depot Inc (NYSE:ODP) and OfficeMax Incorporated (NYSE:OMX): Shares of the rival office supply chains surged following the reports by Wall Street Journal that the two companies are in advanced merger talks. Office Depot has 1262 stores globally, the company posted a revenue of $11.5 billion in 2011. OfficeMax posted sales of $7.1 billion in 2011 from 968 stores. The companies are facing stiff competition from Amazon.com and Staples Inc. OfficeMax shares were up 29.77 percent to $13.93. Office Depot shares jumped 20.92 percent to $5.55 in early trading.
Yandex NV (NASDAQ:YNDX): The Russian Internet company announced its fourth quarter earnings today. The company’s adjusted net income was $97.6 million, up 35% from the same period a year ago. Revenues were also up 37 percent to $290.4 million. But the earnings fell short of analysts estimates and the company issued downbeat guidance as the online text-based advertising has matured in Russia. Shares plunged 9.07 percent to $23.27 in early trading.
Medtronic, Inc. (NYSE:MDT): The medical technology company’s third quarter earnings came better than expected. Analysts were expecting 91 cents per share, but actual earnings were 93 cents per share. Revenues were also up 4 percent to $4.03 billion. But its two most important businesses, cardiac and spinal products, witnessed a decline in sales. Shares plunged 3.99 percent to $45.21.
Staples, Inc. (NASDAQ:SPLS): Staples, Inc. (NASDAQ:SPLS) is a direct competitor of OfficeMax and Office Depot. After reports of a merger of the No.2 and No.3 office product companies, shares of the No.1 company in the space surged 15.21 percent to $14.92 in early trading.
Google Inc (NASDAQ:GOOG): Google Inc (NASDAQ:GOOG)’s shares hit $800 a share in early trading Tuesday for the first time in the company’s history.