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Benzinga's M&A Chatter for Tuesday June 9, 2015

Hormel Foods (NYSE: HRL) shares moved up 5.31% to $50.40. The volume of Hormel Foods shares traded was 324% higher than normal. Hormel reported better-than-expected fiscal third-quarter profit.

China Mobile Games and Entertainment Group (NASDAQ: CMGE) surged 8.87% to $17.30. The volume of China Mobile Games and Entertainment shares traded 301% higher than normal. CMGE's PEG ratio is 0.09.

Hewlett-Packard Company (NYSE: HPQ) shares climbed 4.64% to $36.75. The volume of Hewlett-Packard shares traded was 277% higher than normal. Hewlett-Packard reported in-line earnings for the third quarter and narrowed its FY14 earnings guidance. The company also reported upbeat quarterly revenue.

Perry Ellis International (NASDAQ: PERY) shares rose 5.24% to $20.30. The volume of Perry Ellis shares traded was 276% higher than normal. Perry Ellis reported a narrower-than-expected second-quarter loss. The company also announced its plans to exit noncore, low-growth brands and businesses.

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