King Pharmaceuticals (KG) bids to acquire Alpharma (ALO) in a deal that implies total equity value of about $1.4 billion for 100% of the fully diluted share capital, enterprise value of about $1.2 billion. Terms: $33 per share cash for each ALO share.

WSJ reports that Verizon (VZ) is near a deal with Google (GOOG) on a wide-ranging partnership that would see GOOG become the default search provider on VZ devices. S&P reiterates hold on GOOG.

Intuit (INTU) posts $0.08 fourth quarter non-GAAP loss, vs. $0.02 loss a year ago, despite 11% revenue rise. It sees fiscal year 2009 revenue of $3.35B-$3.43B, non-GAAP EPS of $1.86-$1.90. It sees first quarter revenue of $480-$492 million and $0.11-$0.14 non-GAAP loss.

Nordson (NDSN) shares drop 15.57 to 56.20 after the company posts $0.93, vs. $0.72, third quarter EPS on 12% sales growth. Notes favorable effects of currency translation added 6% to sales growth. Sales decreased 18% in Industrial Coating and Automotive segment. Sees fourth quarter EPS of $0.84-$0.94 on sales in the range of down 1% to up 3%. KeyBanc Capital downgrades to hold from buy.

The Gap (GPS) posts $0.32, vs. $0.19, second quarter EPS as "healthy margins and effectively" managed costs offset 10% same-store sales decline, 5.1% lower total sales. Reaffirms fiscal year 2009 GAAP EPS guidance of $1.30-$1.35. Decreases guidance for store openings by 15 stores.

Pacific Sunwear of California (PSUN) posts $0.06, vs. $0.13, second quarter EPS from continuing operations on 1% lower same-store sales, slightly higher total sales. Given increasingly difficult economic environment, challenging retail conditions in some of PSUN's key markets, the company reduces third quarte and fourth quarter outlook: assuming comps in negative high-single digit range and year-over-year SG&A expense growth of not more than 5%, sees breakeven-$0.05 third quarter EPS from continuing operations and $0.11-$0.16 [excluding about $0.23 gain from sale of closed Anaheim distribution] in the fourth quarter. FBR and Baird reportedly downgrade.

Verigy Ltd. (VRGY) posts $0.29, vs. $0.50, third quarter EPS on 12% lower revenue. Sees $0.12-$0.17 fourth quarter EPS on revenue of $155-$165 million.

China Sunenergy Ltd. (CSUN) posts $0.08 second quarter EPS, vs. $0.14 loss, on 99% sales rise. Believes its gross margin for third quarter will be between 9.0%-11.0%, production volume in range of 35-37MW. Maintains 2008 production target at 125-145 MW. Says for 2009, it working on plan to support production target of 220MW-250MW including 20%-25% from OEM business. Says gross margin should strengthen from early 2009.

Zumiez (ZUMZ) posts $0.09, vs. $0.11, second quarter EPS on 1.7% lower same-store sales, 12.5% higher total sales. Street was looking for $0.07. Cuts $0.90-$0.93 fiscal year 2009 EPS view to $0.80-$0.82, due to challenging macro environment, increasingly promotional retail environment.

Wet Seal (WTSLA) posts better-than-expected $0.12 [before non-cash interest charge], vs. $0.07 second quarter EPS as improved operating margin offset 4.4% lower same-store sales. Total sales rose 4.0%. Wet Seal comps declined 1.8%, while comps at Arden B declined 13.8%. Sees third quarter EPS of $0.05-$0.07 on 6%-9% same-store sales decline.

AON Corp. (AOC) agrees to acquire Benfield Group for GBP 3.50 [$6.55] per share in cash, assume GBP 91M [$170 million] of Benfield net debt, representing an enterprise value of about GBP 935 million on a fully diluted basis. AOC expects the acquisition to be accretive to EPS in the first year after closing, excluding 1x items, and meaningfully accretive thereafter.

Bebe Stores (BEBE) posts $0.18, vs. $0.21, second quarter EPS on 5.6% lower same-store sales, 5.4% higher total sales. Sees first quarter same-store sales in the negative high single digit range and EPS of $0.12-$0.16.

Scansource (SCSC) posts $0.54, vs. $0.43, fourth quarter EPS on 6% sales rise. Sees first quarter revenue of $530-$550 million [vs. fourth quarter's $554 millin].

Skillsoft Plc (SKIL) posts $0.12, vs. $0.11, second quarter GAAP EPS on 17% revenue rise. Based on first quarter and second quarter fiscal year 2009 performance, raises fiscal year 2009 revenue forecast to $0.35-$0.38 EPS on $335-$338 million revenue.