HUN - Hot Stocks: SABR drives travel rally; TSEM merger deal; CAR FIS fall on earnings; HUN rises
Despite a bumpy day of trading, stocks recorded strong gains on Tuesday, amid hope of a peaceful resolution of the tension between Russia and Ukraine. The Nasdaq led the way higher, gaining 2.5% on the day. The S&P 500 posted an advance of 1.6%. The upswing included a contribution from the travel sector. Sabre (NASDAQ:SABR) skyrocketed on better-than-expected earnings, carrying names like Expedia (NASDAQ:EXPE), Hyatt (NYSE:H) and Marriott (NASDAQ:MAR) with it. Tower Semiconductor (NASDAQ:TSEM) represented another major winner on the day. A merger deal with Intel (NASDAQ:INTC) sent the stock higher by more than 40%. Elsewhere, Huntsman (NYSE:HUN) recorded a notable gain on earnings news, taking the stock to a new high. Financial figures had the opposite impact on Avis Budget (NASDAQ:CAR). The stock dropped despite Street-beating headline numbers, amid concerns about the company's ability to keep up its pace of growth. Fidelity National Information Services (NYSE:FIS) also dropped in
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Hot Stocks: SABR drives travel rally; TSEM merger deal; CAR, FIS fall on earnings; HUN rises