Elsewhere, Orbitz Worldwide jumped 21% after Expedia agreed to buy its rival online travel site for $1.34 billion in cash. Expedia will pay $12 per share for Orbitz, which represents a 25% premium to the stock price as of market close on Wednesday. For Orbitz, the buyout ends a frustrating eight years during which the company's share price slowly eroded after its 2007 spinoff returned the stock to the public markets. For Expedia, though, the move adds to the company's momentum after it sealed a deal last month to acquire Travelocity. Expedia shares jumped 14% as its investors also applauded the move and its importance in the highly competitive online travel space.
Source: Ballard Power.
Finally, Ballard Power Systems climbed 8% after a huge 60% surge Wednesday. The fuel-cell specialist announced yesterday that automaker Volkswagen had reached a deal to buy some of Ballard's intellectual property related to automotive-industry fuel cells for $80 million. The deal also includes an extension of its engineering services contract with Volkswagen for two years, which Ballard CEO Randy MacEwen argues "reflects a growing positive sentiment toward fuel cells within the automotive sector." Ballard has had its ups and downs along with the rest of the fuel-cell sector, but the Volkswagen deal could spark new interest in the industry.
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The article These 3 Winners Are Leading the Stock Market Higher originally appeared on Fool.com.
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