Hot U.S. stocks traded may 1 2012

Hot U.S. stocks traded may 1 2012 : U.S. stocks traded higher Tuesday as the Dow Jones Industrial Average recently rose 81 points to 13295, the Standard & Poor's 500-stock index added 12 points to 1410, and the Nasdaq Composite gained 30 points to 3076. Among the companies whose shares are actively trading are P.F. Chang's China Bistro Inc. (PFCB), Sears Holdings Corp. (SHLD) and Chesapeake Energy Corp. (CHK).

P.F. Chang's China Bistro Inc. (PFCB, $51.43, +$11.74, +29.57%) agreed to be acquired by a private equity firm for a 30% premium over its average closing price last month. Word of the deal came as the restaurant operator also reported its first-quarter earnings fell more than 40% amid continued struggles in its massive turnaround effort.

Sears Holdings Corp.'s (SHLD, $60.67, +$6.89, +12.81%) expects to report that operations have markedly improved at its namesake stores when the retailer reports first quarter results later this month. The improvement leaves Sears anticipating results for the period that are far better than Wall Street analysts had forecast.

Chesapeake Energy Corp. (CHK, $19.71, +$1.27, +6.91%) will begin searching for a new chairman, plans the natural gas producer revealed as it also reported its board and current Chairman and Chief Executive Aubrey K. McClendon have agreed to terminate a controversial well contract 18 months before it had been scheduled to end. Chesapeake and McClendon have faced intense criticism in the wake of revelations that entities controlled by McClendon borrowed up to $1.4 billion from a private-equity firm that has done hundreds of millions of dollars in deals with the company in the past year.

Pep Boys-Manny Moe & Jack (PBY, $11.25, -$3.68, -24.65%) predicted a sharp decline in first-quarter profit, disappointing results that come in the midst of the auto-care company's efforts to go private. Shares plunged in Tuesday trade, falling below the $15 a share offer received from private equity firm The Gores Group earlier this year.

Avon Products Inc.'s (AVP, $20.00, -$1.60, -7.41%) first-quarter earnings fell 82% as the door-to-door beauty products seller's sales continued to slide and it stepped up efforts to stabilize its business. The disappointing earnings drop comes just weeks after Avon rejected a $10 billion buyout offer from closely held fragrance maker Coty Inc. that offered Avon shareholders $23.25 a share.

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