PLX Technology–Chip maker Avago Technologies is buying the company for $6.50 per share in cash, or about $298 million. PLX specializes in equipment for enterprise data storage.
Nordstrom –The retailer's stock was downgraded to "neutral" from "buy" on a valuation basis by Goldman Sachs, although Goldman said Nordstrom is still in position to benefit from cyclical and secular retail trends.
Advanced Micro Devices, Nvidia – Pacific Crest downgraded the two chip maker, based on weaker consumer PC demand as well as excess inventory risk.
Micros Systems– Oracle is expected to announce a deal this morning to buy Micros for $5 billion, or about $67 per share, according to the Wall Street Journal. Micros, which makes hospitality industry-focused hardware and software, had seen its shares had jumped last week on reports that the two were in talks about a deal.
General Electric–The industrial giant's bid to buy the energy business of France's Alstom has won the backing of Alstom's board, and also has government backing now that France has sealed a deal to acquire a 20 percent stake in Alstom. Separately, GE is selling its consumer finance business in Sweden, Norway, and Denmark to Spain's Santander for $950 million.
Lululemon – Founder Chip Wilson is working with Goldman Sachs and others on a variety of strategic options for the company, according to the Wall Street Journal. Those options could include a buyout of the company by a private equity firm.
Boeing – Boeing is reportedly seeing its $3.5 billion missile contract with the Pentagon revamped, according to Reuters. Although Boeing's missile defense system did succeed in a Sunday test, Reuters reports failure on a number of other occasions has prompted the Pentagon to rethink the project.
General Motors–GM's board was warned about quality problems in vehicles by an executive in 2002, according to Reuters. Former corporate quality audit chief William McAleer is said to have warned the board that GM needed to stop shipping unsafe vehicles, and that the company needed to recall suspect vehicles that had already been sold.
American Apparel–CEO Dov Charney was found to have violated a number of company policies, including misusing funds, according to an internal investigation cited by Reuters. Charney is being ousted as the retailer's president, chairman, and chief executive officer.
—By CNBC's Peter Schacknow
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