Gainers:
Belo Corp. (BLC) is surging 28 percent to $13.74 following the news that Gannett Co., Inc. (GCI) agreed to acquire the company for $13.75 per share cash or around $1.5 billion, plus the assumption of $715 million in existing debt for an enterprise value of nearly $2.2 billion. GCI is rising 21 percent to $23.97.
Safeway Inc. (SWY) is gaining 23 percent to $28.40 following the news that it has agreed to sell its Canadian division to Canada-based grocery retail giant Sobeys Inc. for C$5.8 billion in cash.
Spreadtrum Communications Inc. (SPRD) is rising 18 percent to $22.51 as the company increased its second quarter revenue guidance due to the continuing strong demand for low cost smartphones throughout the quarter.
Decliners:
First Solar, Inc. (FSLR) is falling 3 percent to $45.20. The company announced the pricing of an underwritten public offering of 8.50 million shares of its common stock at $46.00 per share.
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Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.