Afternoon Market Gainers

Belo Corp. BLC skyrocketed 27.12 percent to $13.64 after a morning of high-volume trading. An announcement is made that Gannett 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 Co. GCI shares soared 26.10 percent to $25.03. Ceres CERE shot up 19.23 percent to $4.65 on news that Supreme Court of the United States upheld its patent claims on complementary DNA, or cDNA. Spreadtrum Communications SPRD popped 10.71 percent to $20.99 on higher Q2 2013 sales guidance. Sinclair Broadcast Group SBGI traded up 9.55 percent to $26.41 on raised price target from Wells Fargo analyst. PVH Corp. PVH shot up 9.42 percent to $121.73 after outstanding first quarter earnings report. CardioNet 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 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 CEVA climbed 9.93 percent to $17.60 Myriad Genetics MYGN jumped 9.75 percent to $37.24 NovaCopper NCQ shot up 8.94 percent to $1.95 after the company announced escrow release.