Breakout

Hungry Man and Sara Lee get married; Gogo soars; JC Penney pops before earnings

Jeff Macke
Breakout

Your trending tickers for today as measured by your yahoo finance ticker searches are:

Pinnacle foods (PF) is up 15% on news that it's going to be acquired by Hillshire (HSH) for $36 a share in cash and stock. The name Pinnacle may not ring a bell but it is the parent company of brands like Hungry Man, Aunt Jemima and Mrs. Butterworths. For its part Hillshire includes Jimmy Dean and Sara Lee among other brands. The $4.3 billion deal marks an expansion of M&A beyond pharma and adds to the record pace of mergers and takeovers so far in 2014.

In-flight WiFi demand is driving Gogo (GOGO) revenue up 35% and helping the company beat estimates, sending the stock soaring by more than 8%. It's a nice quarter for Gogo but we could be talking about any number of tech stocks which are seeing a great bounce across the board this morning. Even with this much-needed bounced Gogo is still down more than 50% year-to-date after getting hammered on the announcment of a competitive in-flight wifi product set to be released by AT&T

Finally JC Penney (JCP) is popping more than 3% higher and creeping back over $9 a share. JCP is one of a handful of retailers reporting this week including Macy's, Nordstrom and Walmart. The troubled Texas department store chain is expected to report a loss of $1.25 per share on sales of $2.7b after the bell on Thursday. Despite that bleak outlook a good portion of Wall Street still thinks JC Penney will disappoint; more than 90 million shares are short, an amount equal to 30% of the company's float.

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