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The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday August 27, 2014:

Monomoy Capital Partners to Acquire Cobra Electronics for $4.30/Share

The Deal:

Following Guess? (NYSE: GES) second quarter results on Wednesday, CEO Paul Marciano hosted a conference call to discuss its performance in the quarter and future outlook.

On Friday morning Big Lots (NYSE: BIG) will report second quarter earnings. Analysts are expecting EPS to be $0.30 on revenue of $1.20 billion.

Pacific Sunwear of California (NASDAQ: PSUN) trended down slightly in the extended session Thursday after it posted in-line second quarter results and issued a disappointing forecast.

August is a typically slow month on Wall Street, as traders and investors take time away from their desk to enjoy the final days of summer.

After the close on Thursday, Splunk (NASDAQ: SPLK) released its second quarter earnings report.

The company's stock is trading up roughly four percent following a beat of $0.03 vs. the consensus.

Consensus Expectations

U.S. stocks declined as geopolitical concerns outweighed an improved economic read on second-quarter growth.

Alibaba is slated to IPO in September on a rumored date of the 16. Ahead of the IPO, MKM Partners, which is not participating in the IPO nor initiating coverage, released a list of observations surround Alibaba’s business metrics.

On August 27, Alibaba filed an amended F-1 with revenues of $15.6 billion versus MKM forecasts of $14.08 billion.

Thursday's Top Losers:

Sungy Mobile Ltd. (NASDAQ: GOMO) -18.5% - On Thursday, Oppenheimer downgraded shares of Sungy Mobile to Perform.