NEW YORK (TheStreet) -- Bookseller Barnes & Noble (BKS) - Get Barnes & Noble, Inc. Report was surging 31.6% to $18.57 in premarket trading Friday after saying it has received an acquisition proposal from Liberty Media (LCAPA) that values its shares at $17 each in cash.

Shares of


(GPS) - Get Gap, Inc. (GPS) Report

were falling 18% to $19.10 after the San Francisco-based fashion apparel retailer

slashed its earnings outlook for 2011

because of higher product costs.

Drug company

Acorda Therapeutics

(ACOR) - Get Acorda Therapeutics, Inc. Report

was soaring 17.9% to $31.50 after the company announced that the European Medicine Agency has recommended approval of the marketing of the Fampyra treatment for multiple sclerosis patients who are having trouble walking.

Drug company

Human Genome Sciences


was adding 10.1% to $30.80 after it and


(GSK) - Get GlaxoSmithKline plc Sponsored ADR Report

said that the European Medicines Agency's Committee for Medicinal Products has issued a positive opinion for Benlysta as an add-on therapy in adult patients with active autoantibody-positive systemic lupus erythematosus. GlaxoSmithKline shares were falling 0.9% to $43.22.

Cloud computing applications provider

(CRM) - Get, inc. Report

was popping 7.6% to $146.19 after reporting first-quarter profit of 28 cents a share, beating estimates by a penny.

Communications services company

Aruba Networks


reported third-quarter profit of 16 cents a share, beating estimates by a penny. Shares were falling 5.2% to $30.98 as investors took profits.

Oil giant


(BP) - Get BP p.l.c. Sponsored ADR Report

was rising 2.3% to $44.89 after saying Friday it

TheStreet Recommends

will be paid $1.065 billion by Moex Offshore 2007 LLC,

which had a 10% interest in the blown out Macondo well, to settle all claims between the companies related to the Gulf of Mexico oil spill in April 2010.

Professional networking site



was rising 1.6% to $95.80 in premarket trading Friday after

a strong debut

the day before. The problem is the company's impressive debut is an

impossible act to follow,

and there could be a hangover for the broad market to deal with after the stock closed up more than 100%.

Private-brand food products distributor



wants to sell its Post cereals unit for about $2 billion to fend off a hostile bid from

ConAgra Foods

(CAG) - Get Conagra Brands, Inc. Report

, according to reports.

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-- Written by Andrea Tse in New York.

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