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Stocks Hold Onto Gains in Midday Trading; GrubHub a Possible Buyout Target

Stocks managed to hold onto gains and were all in the green in midday trading Wednesday.

Stocks managed to hold onto gains and were all in the green in midday trading Wednesday. Major markets are on track to end 2014 near all-time highs. GrubHub (GRUB) is gaining in the session. Shares are up more than 1% after an analyst upgrade. The bullish call was made on the belief the online food delivery service could become a buyout target. Potential suitors include Amazon (AMZN), Google (GOOG) or even Priceline (PCLN). Economic reports continued to flow this New Year's Eve. The Chicago Purchasing Managers Index came out below expectation for December at 58.3. Separately, pending home sales rose 0.8% in November, slightly above forecasts.

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