Gainers:
Imperial Sugar Co. (IPSU) is rising 56 percent to $6.32. Louis Dreyfus Commodities LLC has agreed to buy the company through a cash tender offer and second step merger at $6.35 per share.
Sears Holdings Corp. (SHLD) is rising 5 percent to $56.51. The company expects to report a profit on a continuing operations basis for its first quarter, versus a loss in the last year period. The company also forecast adjusted EBITDA to rise sharply from the previous year period. Domestic comparable store sales for the quarter were down 1.3%, with Kmart declining 1.6% and Sears Domestic dropping 1.0%.
P.F. Chang's China Bistro, Inc. (PFCB) is jumping 30 percent to $51.59. The company has agreed to be acquired by Centerbridge Partners, L.P. in a transaction valued at approximately $1.1 billion, which will result in the company becoming a private company.
Avis Budget Group, Inc. (CAR) is gaining 15 percent to $15.19. The company expects to report a profit on non-GAAP basis and a loss on a GAAP basis in its first quarter. The company expects first quarter revenue slightly above analysts' estimate.
PLX Technology Inc. (PLXT) is rising 65 percent to $6.58. Integrated Device Technology (IDTI) has agreed to acquire the company for $7.00 per share, or total transaction value of approximately $330 million. IDTI is down 11 percent to $6.00.
SIRIUS XM Radio Inc. (SIRI) is up 2 percent to $2.30. The company's first quarter profit jumped from the previous year period. Revenue rose 11 percent, while adjusted EBITDA rose 15 percent. The company now expects to grow its net new subscribers by 1.5 million in 2012.
Decliners:
Pfizer Inc. (PFE) is down 1 percent to $22.70. The company's first quarter profit declined from the year-ago quarter, however adjusted earnings topped Wall Street view. Quarterly revenues declined 7 percent. In addition, the company lowered its 2012 guidance.
Biogen Idec Inc. (BIIB) is falling 2 percent to $131.25. The company's first quarter GAAP profit improved from the previous year. However, non-GAAP earnings per share declined from the year-ago quarter and were below Wall Street view. Revenues increased 7 percent, but missed the consensus estimate.
Trading halt:
Trading in shares of Central Bancorp Inc. (CEBK) was halted. Independent Bank Corp. (INDB), parent of Rockland Trust Company, has agreed to acquire the company. Under the terms of the agreement, 60% of outstanding Central Bancorp. shares will be exchanged for shares of Independent Bank at an exchange ratio subject to limited adjustment, and 40% of outstanding shares will be purchased for $32.00 per share in cash.
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