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Shares of



plunged $4.30, or 15%, to $24.37 after


(MSFT) - Get Microsoft Corporation (MSFT) Report


its $31-a-share offer for Yahoo on Saturday.

In a letter to Yahoo! CEO Jerry Yang that was made public, Microsoft's CEO Steve Ballmer said he was

willing to offer

$33 a share for the Internet company but Yahoo!'s board held out for $37.

Sprint Nextel

(S) - Get SENTINELONE, INC. Report

gained 83 cents, or 10.5%, to $8.72

on speculation

that T-Mobile's parent

TheStreet Recommends

Deutsche Telekom

( DT) is considering a bid for Sprint Nextel.

On the advancing side,

Discovery Labs


shares gained 31.7% to $1.91 Monday, recovering some of the ground lost Friday when news of regulatory delays hit the stock hard. The company

said Monday

it believes it will not need more clinical trials to gain Food and Drug Administration approval for its thrice-brushed off infant lung drug Surfaxin.

In earnings,

Albany Molecular


said first-quarter revenue increased 11% to $53.6 million. The research services firm reported adjusted profit of $4.7 million, or 15 cents a share, up from $3.1 million, or 10 cents a share, a year ago.

Analysts surveyed by Thomson Financial were looking for earnings of 3 cents a share on revenue of $47.6 million. Shares added $1.83, or 16%, to $13.30.

Among the losers,

HMS Holdings

(HMSY) - Get HMS Holdings Corp. Report

, a provider of cost containment and payment accuracy services, slid 23.4% to $20.06. The New York company announced first-quarter income of $3.2 million, or 12 cents a share, vs. $3 million, or 11 cents a share, a year ago. Analysts polled by Thomson Financial were expecting 13 cents a share. HMS Holdings also reaffirmed 2008 revenue guidance for $170 million, slightly below the Street's estimate of $170.5 million.

Meanwhile, shares of

RRsat Global


, a provider of end-to-end content distribution and management services, tumbled 20.4% to $11.81 despite in-line earnings. The company posted adjusted first-quarter earnings of $3.4 million, or 20 cents a share, a 26% increase from the year-ago quarter. Analysts were looking for 20 cents a share.

This article was written by a staff member of