ExpressJet Holdings, Inc. (NYSE:XJT) skyrocketed 99.39% to $6.54 on over 3.42 million shares. Regional airline SkyWest Inc said it agreed to acquire the shares of ExpressJet Holdings Inc it does not already own for about $133 million in cash in the latest consolidation effort in the airlines space.
SkyWest said its subsidiary Atlantic Southeast Airlines will buy ExpressJet for $6.75 a share, a premium of about 106 percent to the stock’s closing price Tuesday.
Barnes & Noble, Inc. (NYSE:BKS) gained 22.43% to $15.72 after the struggling bookseller said it was up for sale and could get a bid from its founder to go private. Till now, 3.60 million shares have already been traded. Over the past 52-weeks, the stock has been trading within the range of $26.75-$62.38.
Goldman Sachs upgraded Barnes & Noble shares to “neutral” from “sell” and raised its price target on the shares to $15.
priceline.com Incorporated (NASDAQ:PCLN) also went up 22.31% to $282.13 on over 3.79 million shares. The company reported that its second-quarter net income applicable to common stockholders increased to $114.96 million or $2.26 per share from $67.01 million or $1.38 per share prior year.
Priceline.com is targeting third-quarter Pro forma net income of between $4.78 and $4.98 per diluted share. The company estimates GAAP net income of approximately $4.06 to $4.26 per diluted share. Priceline.com expects third-quarter year-over-year increase in revenue to be approximately 29%-34%.
Emmis Communications Corporation (NASDAQ:EMMS) advanced 26.87% to $2.03. The company announced that it is extending its offer to issue 12% PIK Senior Subordinated Notes due 2017 in exchange for Emmis’ 6.25% Series A Cumulative Convertible Preferred Stock at a rate of $30.00 principal amount of New Notes for each $50.00 of liquidation preference of Preferred Stock until 5:00 p.m., New York City time, on Friday, August 6, 2010.
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