Market Overview

Afternoon Market Gainers

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Belo (NYSE: BLC) skyrocketed 27.12 percent to $13.64 after a morning of high-volume trading. An announcement was made that Gannett (NYSE: GCI) plans to acquire Belo in a deal valued at $2.2 billion. The deal is likely to close be the end of this year.

Gannett (NYSE: GCI) shares soared 26.10 percent to $25.03.

Ceres (NASDAQ: CERE) shot up 19.23 percent to $4.65 on news that the Supreme Court of the United States upheld its patent claims on complementary DNA, or cDNA.

Spreadtrum Communications (NASDAQ: SPRD) popped 10.71 percent to $20.99 on higher Q2 2013 sales guidance.

Sinclair Broadcast Group (NASDAQ: SBGI) traded up 9.55 percent to $26.41 on raised price target from Wells Fargo analyst.

PVH Corp. (NYSE: PVH) shot up 9.42 percent to $121.73 after outstanding first quarter earnings report.

CardioNet (NASDAQ: BEAT) jumped 8.37 percent to $5.73 on news that the company agree to sign a three-year deal with UnitedHealthcare Insurance Company.

Verastem (NASDAQ: VSTM) jumped 11.9 percent to $11.10 on news that the company won European orphan medicinal product designation from EC for VS-6063.

CEVA (NASDAQ: CEVA) climbed 9.93 percent to $17.60

Myriad Genetics (NASDAQ: MYGN) jumped 9.75 percent to $37.24

NovaCopper (NYSE: NCQ) shot up 8.94 percent to $1.95 after the company announced escrow release.

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