Wednesday's Winners & Losers: Guitar Center

Updated from 12:24 p.m. EDT

Guitar Center(GTRC Quote) was among the Nasdaq's winners Wednesday, as shares soared 19.8% after the music retailer agreed to be acquired by Bain Capital for nearly $2 billion in cash.

The deal consists of $1.9 billion in cash and $200 million in debt, bringing the total deal value to $2.1 billion. In all, Bain Capital is paying $63 a share, or a 26% premium over Guitar Center's closing price of $50.06 on Tuesday. The deal is expected to close during the fourth quarter. Shares of Guitar Center closed up $9.92 to $59.98.

Apogee Enterprises(APOG Quote) rose 11.5% after the glass products company posted better-than-expected first-quarter earnings and boosted its full-year guidance. The company posted earnings from continuing operations of $9.7 million, or 34 cents a share, on revenue of $209.9 million. Analysts expected earnings of 24 cents a share on revenue of $206.8 million. During the year-earlier period, the company earned $4.9 million, or 17 cents a share, on revenue of $187 million. ...