SM&A (Nasdaq: WINS) 130% HIGHER; SM&A and Odyssey Investment Partners, LLC today announced a definitive agreement under which an affiliate of Odyssey will acquire SM&A for $6.25 per share in cash in a transaction with a total value of approximately $119.6 million.

Gramercy (NYSE: GKK) 80% HIGHER; the stock is continuing its momentous rise today, following yesterday’s 86% rise on a better-than-expected Q3 earnings report.

Powerwave Technologies (Nasdaq: PWAV) 51.7% LOWER; reports Q3 EPS of $0.08, 3 cents better than the analyst estimate of $0.05. Revenue for the quarter was $238 million, versus the consensus of $232.46 million.

Penson Worldwide,