On the upside
Accel-KKR will acquire SumTotal Systems (Nasdaq: SUMT) in an all cash deal valued at approximately $124 million.Although first quarter earnings for The Cheesecake Factore (Nasdaq: CAKE) fell, the results beat expectations prompting an upgrade.
PMC-Sierra (Nasdaq: PMCS) narrowed first quarter losses to top analyst estimates.
On the downside
The Department of Justice issued a subpoena for Immucor (Nasdaq: BLUD) requesting documents related to an investigation into possible violations of antitrust laws.
UCBH Holdings (Nasdaq: UCBH) swung to a first quarter loss as income fell and loan loss provisions soared.
Harbinger Capital Partners Master Fund will sell 20 million shares of Calpine (Nasdaq: CPN) stock.
In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 11 points to 477.
