NEW YORK ( TheStreet) -- Semiconductor products provider Applied Materials (AMAT - Get Report) agreed to buy Varian Semiconductor(VSEA) for $63 a share in cash, or about $4.9 billion. Shares of Varian were surging 51.3% to $61.35 in premarket trading Wednesday. Applied Materials was up 1.9% to $15.53.
Shares of Glu Mobile (GLUU - Get Report) staged a relief rally of 8.1% to $4.13 after the San Francisco-based developer of games for smartphones and tablets reported a narrower-than-expected loss for the first quarter.
ConAgra Foods (CAG - Get Report) offered to buy private food brand company Ralcorp Holdings (RAH) for $86 a share in cash, or about $4.9 billion. Ralcorp shares were surging 8% to $90.
Thin film solar module maker First Solar (FSLR - Get Report) was plunging 7.2% to $125 after reporting a first-quarter profit decline.
Media company CBS (CBS - Get Report) was popping 5.7% to $26.67 after beating first-quarter profit expectations and doubling its dividend.
Cable giant Comcast (CMCSA - Get Report) was gaining 2.5% to $27.28 after posting an in-line profit for the first quarter along with a nearly 18% jump in free cash flow.
Media company Time Warner Inc. (TWX - Get Report) reported first-quarter profit of 58 cents a share, narrowly beating the Wall Street consensus. >>Search for Highest Dividends by Rate or Yield
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