5 Top Stock Gainers for Tuesday: IAC, Sportsman's Warehouse

Sportsman's Warehouse, IAC, Colonnade Acquisition, Vista Outdoor and Simply Good Foods are five top stock gainers for Tuesday.
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The Nasdaq finished at a record Tuesday amid mixed broader trading as reports of a new variant strain of the coronavirus in the U.K. dimmed optimism about Congress's passage of a $900 billion pandemic relief package.

Here are some of the big movers in the stock market Tuesday:

1. IAC | Increase 14%

IAC  (IAC) - Get Report shares jumped after Barry Diller’s media/internet titan said it would spin off its stake in video hosting and software company Vimeo to IAC holders. IAC plans a stockholder meeting in the first quarter to review and approve a proposal to implement the spinoff. If it's approved, it's expected to go into effect in the second quarter.

2. Sportsman's Warehouse | Increase 40%

Sportsman’s Warehouse  (SPWH) - Get Report shares surged after the outdoor sporting goods retailer agreed to be bought by Great American Outdoors, parent of Bass Pro Shops, for $785 million in cash. Great American will pay $18 a share for Sportsman’s Warehouse, a 42% premium from Monday’s close.

3. Colonnade Acquisition | Increase 37%

Colonnade Acquisition  (CLA) - Get Report was climbing following news that lidar-sensor startup Ouster will go public through a merger with the special purpose acquisition company. If the deal closes, the new company will trade on the New York Stock Exchange under the ticket symbol OUST.

4. Vista Outdoor | Increase 22%

Vista Outdoor  (VSTO) - Get Report advanced after Cowen analyst Gautam Khanna upgraded shares of the sporting goods company to outperform from market perform with a price target of $33, up from $29. The current ammunition demand upcycle is "apt to extend," and Vista's current valuation is "compelling," he said. 

5. Simply Good Foods | Increase 11%

Simply Good Foods (SMPL) - Get Report was rising after S&P Dow Jones Indices said the packaged food and beverage company will replace Kinsale Capital   (KNSL) - Get Report in the S&P SmallCap 600.