Why Getty Images and Shutterstock Stocks Exploded Today

Image library companies Getty Images (GETY 26.46%) and Shutterstock (SSTK 23.56%) are merging, sending shares of both companies soaring in morning trading Tuesday. As of 10:15 a.m. ET, Getty stock is up a solid 24.5%, with Shutterstock gaining a nearly as impressive 22.5%.Getty-Shutterstock merger detailsThe companies announced their plans to merge to create "a premier visual content company" early this morning, saying they expect a merger to cut out between $150 million and$200 million in unnecessary cost ...