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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