News Summary

Shares of Genpact Ltd G gained about 2.7% after the company announced its plans to buy consulting and IT services group Headstrong Corp. for $550 million in cash. The transaction is likely to close by the end of May. Shares of Monsanto Co MON fell about 0.5% after the company reported its FQ2 earnings at about $1 billion, or $1.88 per share, versus $887 million, or $1.60 per share, in the year-earlier period. The company's sales increased to $4.13 billion from $3.89 billion. MON's adjusted earnings came in at $1.87 per share. However, analysts were expecting earnings of $1.84 per share. Monsanto affirmed its FY11 adjusted-earnings guidance of $2.72 to $2.82 per share, versus analysts' estimates of $2.85 per share. Shares of Orchid Cellmark Inc ORCH surged about 38% after Laboratory Corporation of America LH announced its plans to acquire ORCH for $85.4 million or $2.80 per share, representing a 40% premium over ORCH's closing price of $2 per share on Tuesday. Read more from Benzinga's Markets.