Hot Stocks (XLNX, SQNM, SBX, MOV, PVH)

Xilinx, Inc. (NASDAQ:XLNX) stock increased 0.57% to $33.79 after the company announced the acquisition of embedded Linux solutions provider PetaLogix. Financial terms were not disclosed. As Linux solutions become must-haves for a growing number of embedded applications relying on Xilinx All Programmable technologies, the addition of PetaLogix and their PetaLinux technology strengthens Xilinx's capabilities and commitment to customers to provide the best Linux solutions possible.  

Sequenom, Inc. (NASDAQ:SQNM) stock fell 2.34% to $3.76 after the company announced that its wholly-owned subsidiary, the Sequenom Center for Molecular Medicine (Sequenom CMM), has completed several international distribution agreements that will expand access to the MaterniT21 PLUS testing service outside the United States. Agreements in Asia cover Japan and Hong Kong; in Europe cover the Czech Republic and Slovakia, and the Netherlands; and in the Middle East, cover Israel.

Seabright Holdings Inc (NYSE:SBX) shares surged 32.65% to $10.97 in the early hour after Enstar Group Ltd and SeaBright Holdings jointly announced that they have entered into a definitive merger agreement under which Enstar will acquire SeaBright for $11.11 per share in cash. The purchase price represents a 34.3% premium over SeaBright's closing stock price of $8.27. Under the terms of the merger agreement, a newly formed wholly owned subsidiary of Enstar will merge with and into SeaBright, with SeaBright surviving as a wholly owned subsidiary of Enstar.

Movado Group, Inc (NYSE:MOV) shares soared 16.97% to $35.31 after the company posted second-quarter net income of $8.06 million, or $0.32 per share, from $4.41 million, or $0.18 per share, in the fiscal 2012 second quarter. Net sales increased 4.2% to $118.0 million and rose 7.6% on a constant dollar basis compared with $113.2 million in the previous year. Analysts expected earnings per share of $0.18 for the quarter.

PVH Corp (NYSE:PVH) stock climbed 6.66% to $94.43 after the company reported second quarter net income of $87.7 million or $1.19 per share, as compared to $66.7 million or $0.92 per share for the year-ago quarter. Adjusted net income for the second quarter was $92.0 million or $1.25 per share. Total revenue grew to $1.34 billion from $1.33 billion in the same quarter last year. Analysts expected the company to earn $1.20 per share on revenue estimate of $1.34 billion for the second quarter.

Additionally, Citigroup reconfirmed their buy rating on shares of Phillips-Van Heusen in a report issued yesterday and they currently have a $104.00 target price on the stock.

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