Palm Inc. (Nasdaq: PALM) 27.2% HIGHER; Hewlett-Packard Co. (NYSE: HPQ) announced Wednesday that it has agreed to acquire Palm for approximately $1.2 billion. The deal will see HP pay $5.70 per share for each share of Palm common stock, a 23 percent premium over the closing price of the shares on Wednesday.

IRobot (Nasdaq: IRBT) 21% HIGHER; reports Q1 EPS of $0.24, 20 cents better than the analyst estimate of $0.04. Revenue for the quarter was $95 million, which compares to the estimate of $83.76 million. Sees Q210 EPS of $0.06 - 0.08, versus ($0.04) consensus. Also sees Q210