NEW YORK ( TheStreet) -- Semiconductor products provider Applied Materials ( AMAT) agreed to buy Varian Semiconductor ( VSEA) for $63 a share in cash, or about $4.9 billion. Shares of Varian were surging 51.3% to $61.35 in premarket trading Wednesday. Applied Materials was up 1.9% to $15.53.


K-Cup maker Green Mountain Coffee Roasters ( GMCR) was surging 17.5% to $75.31 in premarket trading on an improved outlook and better-than-expected profit.


Shares of Glu Mobile ( GLUU) staged a relief rally of 8.1% to $4.13 after the San Francisco-based developer of games for smartphones and tablets reported a narrower-than-expected loss for the first quarter.


ConAgra Foods ( CAG) offered to buy private food brand company Ralcorp Holdings ( RAH) for $86 a share in cash, or about $4.9 billion. Ralcorp shares were surging 8% to $90.


Thin film solar module maker First Solar ( FSLR) was plunging 7.2% to $125 after reporting a first-quarter profit decline.


Media company CBS ( CBS) was popping 5.7% to $26.67 after beating first-quarter profit expectations and doubling its dividend.


Cable giant Comcast ( CMCSA) was gaining 2.5% to $27.28 after posting an in-line profit for the first quarter along with a nearly 18% jump in free cash flow.


Media company Time Warner Inc. ( TWX) reported first-quarter profit of 58 cents a share, narrowly beating the Wall Street consensus.

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-- Written by Andrea Tse in New York.

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