Updated from 12:46 p.m. EDT

Copa Holdings ( CPA) was among the NYSE's winners Wednesday, as shares rose 10.2% after the transportation services company posted better-than-expected first-quarter results.

The company earned $48.6 million, or $1.12 a share, on revenue of $242.7 million. Analysts polled by Thomson Financial expected earnings of 99 cents a share on revenue of $233.9 million. During the year-earlier period, the company earned $32.3 million, or 75 cents a share, on revenue of $191.7 million. Shares closed up $6.30 to $67.89.

Bausch & Lomb ( BOL) rose 9.8% after the eye-care products company agreed to be acquired by Warburg Pincus for about $3.7 billion in cash. The private equity firm will pay $65 a share, representing a 26% premium to the company's closing price of $61.50 on Tuesday. "After extensive negotiations and careful and thorough analysis, together with our independent advisors, the special committee and our board have unanimously endorsed this transaction as in the best interest of the company and our shareholders," Bausch & Lomb said. "We are pleased that this transaction appropriately recognizes the value of Bausch & Lomb's highly respected brand and innovative products in the eye care industry, while providing our shareholders with an immediate and substantial cash premium for their investment in Bausch & Lomb."

The terms of the deal allow Bausch & Lomb to shop itself to other suitors for the next 50 days; the company plans to pursue that opportunity. If Bausch & Lomb does get acquired by another company, it will have to pay Warburg Pincus a $40 million breakup fee. Shares of Bausch & Lomb closed up $6 to $67.50.

Shares of Quanex ( NX) rose 10.1% after the company said that it is considering strategic alternatives for its building products unit, including a possible sale. "Our two groups, vehicular products and building products, are both strong businesses with the scale, cash flow, and balance sheet strength needed to succeed and pursue opportunities in their distinct markets," the company said. "However, given their different products, processes and end markets, we believe that the time is right to explore whether separating these businesses can deliver greater value for our shareholders." For the year ended Oct. 31, the company's building products division posted operating income of about $135 million on revenue of about $1.1 billion. Shares closed up $4.51 to $49.21.

International Assets ( IAAC) jumped 16.1% after the financial services company posted second-quarter results. The company earned $681,000, or 8 cents a share, on revenue of $14.8 million. During the year-earlier period, the company earned $1.1 million, or 13 cents a share, on revenue of $9 million. Shares were up $3.32 to $24.

Shares of Gaming Partners International ( GPIC) plunged 32.6% after the maker of casino chips posted disappointing fourth-quarter results. The company earned $115,000, or 1 cent a share, on revenue of $16.1 million. Analysts expected earnings of 11 cents a share on revenue of $19.6 million. During the year-earlier quarter, the company earned $2.1 million, or 26 cents a share, on revenue of $16.2 million. Shares closed down $5.24 to $10.83.

NYSE volume leaders included Citigroup ( C), up $2.12 to $54.91; Pfizer ( PFE), up 22 cents to $27.32; Ford ( F), down 15 cents to $8.76; Advanced Micro Devices ( AMD), up 18 cents to $15.58; Limited Brands ( LTD), down 71 cents to $25.47; Motorola ( MOT), up 30 cents to $18.22; General Electric ( GE), up 19 cents to $36.83; and EMC ( EMC), up 34 cents to $15.77.

Nasdaq volume leaders included Applied Materials ( AMAT), down 61 cents to $19.17; Intel ( INTC), up 17 cents to $22.18; Microsoft ( MSFT), up 17 cents to $31.07; Agile Software ( AGIL), up 89 cents to $7.97; Compuware ( CPWR), up 73 cents to $10.67; Cisco ( CSCO), up 35 cents to $26.48; Apple ( AAPL), down 18 cents to $107.34; and Level 3 Communications ( LVLT), up 5 cents to $5.39.

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