Several stocks were getting a boost on early returns from the holiday shopping season, including
, which said users of its shopping search engine spent $10.3 billion online in the fourth quarter. The directory provider said users spent 86% more this year than last at retail sites they connected to from Yahoo! Shopping. The company said the most popular item on its service was game consoles, followed by digital cameras and laptop computers.
was also rising after a USB Piper Jaffray analyst said his research showed the company's unit volume was strong in the fourth quarter and its electronics prices higher than expected.
rose after saying it expects a gain in December same-store sales that is at the high end of its previously released range of 4%-6%. The outlook was boosted by results in the last several days before Christmas and reflected strength in toys, women's clothes and seasonal items like wrapping paper and trees.
Earnings & Outlooks
lost 20 cents a share before items in the fourth quarter, slightly narrower than analysts' expectation, on an 11% drop in revenue. Including an $18 million deferred tax valuation allowance, Uniroyal lost $35 million, or $1.29 a share, in the quarter.
Mergers & Acquisitions
agreed to buy three Denver radio stations from
for $180 million. Entercom will manage the stations for up to three years and then have the right to buy them from Tribune, which cited consolidation in the Denver market for the sale. Tribune said it will seek "suitable television assets" to buy in an exchange transaction.
sold about 2.6 million common shares in a private placement, raising $22 million. The company sold the shares to U.S. institutional investors for $8.34 each, a 16% discount to their average price over the last 10 sessions. The company will use the proceeds for general corporate purposes. Visible Genetics' shares closed at $10.76 Monday, up 23 cents.