borders group inc

Borders Group Inc. said late Thursday it agreed to sell itself to private investment firm Najafi Cos. for $215 million and is seeking court approval for the agreement.

Borders Group Inc. says it may have to close dozens of its best-performing stores due to a requirement of its bankruptcy financing if their landlords don't agree to extend their lease-negotiation period.

Borders Group Inc filed for bankruptcy protection and said it would close about one-third of its bookstores, after years of shriveling sales that made it impossible to manage its crushing debt load.

Liz Claiborne Inc. (NYSE: LIZ) 19.6% LOWER; sees a second half increase in adjusted operating income in the range of $40 to $50 million, versus prior view of an $80 million increase.

Borders Group, Inc. (BGP) 19% HIGHER; reports the bookseller is in talks with Jefferies, among other advisors, to explore restructuring of their debt-laden balance sheet.

Saba Software Inc. (NASDAQ: SABA) 11% LOWER; reported Q2 EPS of $0.00, $0.07 cents worse than the analyst estimate of $0.07.

Revenue for the quarter came in at $26.8 million versus the consensus estimate of $29.05 million. Xyratex Ltd.

Home Diagnostics, Inc. (NASDAQ: HDIX) 89.1% HIGHER; signed a definitive merger agreement with Nipro Corporation under which Nipro will acquire the company for $11.50 per share in cash, or approximately $215 million.

The offer price represents an approximately 90% premium to the closing price of Home Diagnostics’ common stock on February 2, 2010.

Borders Group, Inc. (NYSE: BGP) 33.7% HIGHER; skyrocketing after hedge fund manger Ackman said on CNBC's Fast Money that the company has a better risk reward versus Barnes & Noble, Inc.

Borders Group, Inc. (NYSE: BGP) 53.6% HIGHER; skyrocketing after hedge fund manger Bill Ackman said on CNBC's Fast Money that the company has a better risk reward versus Barnes & Noble, Inc.

(NYSE: BKS), which has attracted activist investors Ron Burkle. Kenexa (NASDAQ: KNXA) 11.8% LOWER; reports Q4 EPS of $0.13, 2 cents worse than the analyst estimate of $0.15.

Revenue for the quarter was $39.1 million, which compares to the estimate of $39.57 million.

The Trading Radar highlights key earnings and economic announcements for tomorrow's trading session: Before Market Opens: Economics: 8:30am EST

• GDP Preliminary - Street sees 2.9%
• GDP Deflator Preliminary - Street sees 0.8%

9:00am EST

• Case Shiller 20 City Index - Street sees (9.05%)
• Consumer Confidence - 47.5

Earnings: Allied Healthcare (NASDAQ: AHCI) – consensus EPS $0.06 American Eagle Outfitters Inc (NYSE: AEO) – consensus EPS $0.21 AVANIR Pharmaceuticals (NASDAQ: AVNR) – consensus loss $0.06 Barnes & Noble (NYSE: BKS) – consensus lo

Book retailer Borders Group Inc. said Tuesday it will elect five new directors at its board meeting in September.

Cogdell Spencer Inc. (NYSE: CSA) 16.8% LOWER; commenced an underwritten public offering of 18,000,000 shares of common stock.

Cogdell Spencer also plans to grant the underwriters an option to purchase up to an additional 2,700,000 shares of common stock.

Citi and KeyBanc Capital Markets are acting as joint book-running managers. The Company intends to use the net proceeds from the offering to fund a $50 million repayment under Erdman's senior secured term loan, to reduce borrowings under the secured revolving credit facility and for working capital purposes.