On the upside
Private equity firm 72 Mobile Holdings will acquire Airvana (Nasdaq: AIRV) in a deal valued at approximately $530 million.
Smart Modular (Nasdaq: SMOD) reversed year ago losses to post a better than expected profit for the first quarter and forecast second quarter earnings well ahead of estimates.
Joint venture firm Hotel Acquisition will pay $307 million in cash to purchase Interstate Hotels & Resorts (NYSE: IHR).
On the downside
Myriad jParmaceuticals (Nasdaq: MYRX) announced an all stock deal to purchase Javelin Pharmaceuticals.
Continental Airlines (NYSE: CAL) will begin offering inflight Internet service through the Gogo system in the second quarter of 2010.
William Blair and Piper Jaffray downgraded C. R. Bard (NYSE: BCR).
In the broad market, declining issues barely edged out advancers by a slim margin on the NYSE while advancers outpaced decliners by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 606.
