Rich Premium for TV Broadcaster
Gannett agreed to purchase broadcaster Belo for $1.5 billion, or $13.75 a share, in cash. That's a nice premium from BLC's $10.73 close yesterday and expands the newspaper company's reach in television. BLC surges 28 percent before the bell on my tradeMONSTER platform and GCI is up 21 percent!
Spreadtrum Raises Guidance
Spreadtrum Communications raised its revenue guidance for the second quarter. The chip maker now expects $270 million to $278 million, compared with an earlier estimate of $220 million to $228 million. SPRD rallies 19 percent in early trading.
PVH Earnings, Revenue Beat Expectations
PVH earned $1.91 a share in the first quarter, beating the $1.35 average analyst estimate. Adjusted revenue of $1.94 billion also beat the $1.91 consensus number and top-line guidance was strong. PVH climbs almost 8 percent in the premarket.
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