News Summary

Shares of Diamond Foods Inc DMND gained about 8% after Procter & Gamble Co PG announced its plans to sell its Pringles business to Diamond Foods in a deal valued at $2.35 billion. Shares of National Semiconductor Corp NSM jumped around 72% after Texas Instruments Inc TXN announced its plans to acquire NSM for $6.5 billion in cash. Texas Instruments will purchase National Semiconductor for $25 per share, representing a 78% premium to NSM's closing price on Monday. Shares of KB Home KBH dropped about 9.8% after the company posted a Q1 loss at $114.5 million, or $1.49 per share, versus a loss of $54.5 million, or $0.71 per share, in the year-earlier period. The recent period results included a one-time impairment cost of $54.5 million. The company's revenue dropped to $196.9 million from $264 million. However, analysts were expecting a loss of $0.25 per share on revenue of $225 million. Read more from Benzinga's Markets.