Market Update

Investors Bancorp Inc ISBC announced its plans to acquire Brooklyn Federal Bancorp Inc BFSB for $0.80 per share or around $10.3 million in the aggregate. Shares of Cyanotech Corporation CYAN rose about0.5% as the company named Jole Deal as Chief Financial Officer, Vice President of Finance and Administration, Treasurer and Secretary of the company. Shares of R.R. Donnelley & Sons Co RRD rose about 0.5% after the company acquired e-book and periodical pioneer LibreDigital Inc. The company has not disclosed the financial terms of the deal. Shares of Dell Inc DELL fell about 7.5% after the company lowered its full-year sales forecast. Dell reported its Q2 net income at $890 million, or $0.48 per share, up from $545 million, or $0.28 per share, in the year-ago period. Its revenue climbed to $15.66 billion, from $15.53 billion. Dell's adjusted income came in at $0.54 per share. However, analysts were expecting earnings of $0.49 per share on revenue of $15.75 billion.