Shares of

Stewart & Stevenson

( SVC) were among the

NYSE's

winners Monday, soaring 27% after the manufacturer of military tactical vehicles agreed to be acquired by

Armor Holdings

(AH)

.

Armor plans to pay $35 a share in the deal, which has a total value of $755 million after deducting Stewart's cash balance of about $312 million. The $35 price represents a 29% premium to Stewart's closing price of $27.10 on Friday. "This is truly a transformational event for our company. Stewart & Stevenson is one of the finest manufacturers of military vehicles in the world," Armor Holdings said in a statement. The deal, which is expected to close by midyear, should be accretive to Armor's earnings during 2007. Shares of Stewart & Stevenson were trading up $7.23 to $34.33, while shares of Armor Holdings rose $3.43, or 6.2%, to $58.89.

Parallel Petroleum

(PLLL)

slid 10% after the energy company said it is not in merger discussions. "Although our general policy is not to comment on market rumors, we are aware of an analyst's report referring to a 'merger possibility' between us and another company. Contrary to the suggestions contained in this report, we are not engaged in any merger discussions or negotiations with any company at the present time," the company said. Shares, which jumped nearly 16% on Friday, were recently trading down $1.90 to $17.08.

Shares of

ArvinMeritor

( ARM) rose 4% after the auto-parts maker announced plans to sell its filters business. The company said late Friday that it plans to sell its Light Vehicle Aftermarket Purolator filters business in North America to Germany's Bosch Group and MANN+HUMMEL, which will operate the business as a joint venture. Terms of the deal weren't disclosed. The agreement is part of ArvinMeritor's previously announced strategy to sell individual parts of its LVA businesses. The company's shares recently changed hands at $16.35, up 75 cents.

Laureate Education

(LAUR) - Get Report

fell 3% after the education company posted fourth-quarter earnings that were a penny shy of expectations and said first-quarter earnings will fall short of forecasts. The company earned $46.4 million, or 89 cents a share, in the fourth quarter, while sales totaled $277.8 million. Income from continuing operations came in at $47.6 million, or 91 cents a share. Analysts expected earnings from continuing operations of 92 cents a share and sales of $277.8 million. During the year-earlier period, the company posted earnings from continuing operations of $47.2 million, or 92 cents a share, on sales of $210.4 million. Excluding a gain, the company would have earned $32 million, or 62 cents a share, during the year-ago quarter.

Laureate Education anticipates a first-quarter loss of 1 cent to 3 cents a share and sales of $215 million to $235 million. Analysts project earnings of 9 cents a share, with sales of $248.7 million. For the full year, the company now sees earnings of $2.05 to $2.15 a share, up 5 cents from its earlier forecast. Analysts project earnings of $2.07 a share. Shares were trading down $1.66 to $52.75.

Shares of

Hormel Foods

(HRL) - Get Report

rose 2% after the food maker posted better-than-expected first-quarter earnings and raised its full-year forecast. For the quarter ended Jan. 29, the company earned $69.3 million, or 50 cents a share, up from $64.6 million, or 46 cents a share, a year earlier. Excluding items, the company earned 55 cents a share in the recent period, beating analysts' mean estimate of 48 cents. Sales rose to $1.42 billion from $1.27 billion, ahead of Wall Street's prediction of $1.38 billion.

Looking ahead, Hormel sees second-quarter earnings of 42 cents to 48 cents a share. For all of fiscal 2006, the company raised its earnings projection to $1.90 to $2 a share from its earlier guidance of $1.86 to $1.96 a share. Analysts project earnings of 45 cents a share for the second quarter and $1.94 a share for fiscal 2006. Shares were trading up 78 cents to $35.24.

NYSE volume leaders included

Lucent Technologies

( LU), up 3 cents to $2.86;

Pfizer

(PFE) - Get Report

, up 21 cents to $26.58;

Tyco

(TYC)

, up 22 cents to $25.99;

Micron Technology

(MU) - Get Report

, down 30 cents to $15.58;

Disney

(DIS) - Get Report

, up 41 cents to $28.39;

Time Warner

(TWX)

, up 17 cents to $17.44; and

General Electric

(GE) - Get Report

, up 8 cents to $33.22.

Nasdaq

volume leaders included

Intel

(INTC) - Get Report

, up 34 cents to $20.70;

Applied Materials

(AMAT) - Get Report

, down 30 cents to $18.50;

Generex Biotech

(GNBT)

, up 27 cents to $2.49;

Cisco Systems

(CSCO) - Get Report

, up 9 cents to $19.94;

Microsoft

(MSFT) - Get Report

, up 32 cents to $26.95;

Apple Computer

(AAPL) - Get Report

, up 23 cents to $71.69;

Oracle

(ORCL) - Get Report

, unchanged at $12.46;

Sirius Satellite Radio

(SIRI) - Get Report

, up 6 cents to $5.24;

SanDisk

(SNDK)

, up $4.91 to $61.25;

JDSU

(JDSU)

, down 2 cents to $3.04; and

Sun Microsystems

(SUNW) - Get Report

, down 2 cents to $4.26.