11:57 AM EDT, 06/07/2024 (MT Newswires) -- Two of the three major US stock indexes were up in late-morning trading Friday despite a stronger-than-expected jobs report earlier.

Nonfarm payrolls increased by 272,000 in May, well above consensus forecasts. Average hourly earnings increased 0.4% in May to $34.91. Over the last 12 months, wages increased by 4.1%. The unemployment rate ticked up slightly to 4.0%.

In company news, PowerSchool Holdings ( PWSC ) said Friday it agreed to be acquired by Bain Capital (BCSF) in a deal valued at $5.6 billion. Under the terms of the agreement, PowerSchool ( PWSC ) shareholders will receive $22.80 per share in cash, a 37% premium over its unaffected share price on May 7, the last trading day before media reports came out on the potential deal. The acquisition is expected to close in the second half of 2024, at which point PowerSchool ( PWSC ) will become a privately held company. Shares of the company were mostly flat around midday.

GameStop ( GME ) on Friday reported lower fiscal Q1 sales on an annual basis amid a trading frenzy surrounding the video game retailer's stock. The company, which was expected to disclose financial results next week, reported an adjusted loss of $0.12 per share for the quarter ended May 4, compared with a $0.14 loss in the year-ago period. Sales fell to $881.8 million from $1.24 billion, trailing the $995.3 million estimated by two analysts polled by Capital IQ. GameStop ( GME ) also announced it filed a prospectus with the US Securities and Exchange Commission to offer and sell up to an additional 75 million shares of its common stock. The company will likely be the subject of a YouTube livestream at noon on Friday by Keith Gill, who goes by "Roaring Kitty" on the platform and on X. Shares of the company were down 20%.

Citigroup ( C ) economists altered their forecast for when they expect the Federal Reserve to lower its benchmark federal funds rate to September from July, Bloomberg reported, citing a Citi note. Shares of Citi were up 0.6%.

Spirit Airlines ( SAVE ) is not currently considering filing for bankruptcy and is instead working on repairing its balance sheet and modifying its business model, Chief Executive Ted Christie said Friday at the company's annual shareholder meeting, according to a Bloomberg report. Shares of Spirit were down 2%.

Yext ( YEXT ) , a software maker that promotes company information in online search directories and websites, is getting ready to explore a sale after attracting takeover interest, Reuters reported, citing people familiar with the matter. Yext ( YEXT ) has hired investment advisers to explore potential strategic options, Reuters reported, citing the people. Yext ( YEXT ) shares were up 8%.

Blue Owl (OWL) completed its acquisition of Prima Capital Advisors, Blue Owl said Friday. Shares were flat.

Asensus Surgical ( ASXC ) said Friday it has agreed to be acquired by Karl Storz Endoscopy-America, a unit of Karl Storz SE. Under the terms of the deal, Karl Storz would acquire outstanding Asensus shares for $0.35 each in cash. The deal is slated to be completed in Q3, at which point Asensus will no longer be publicly listed or traded on the NYSE American Exchange, Asensus said. Shares of the company were up 41%.

Price: 22.41, Change: +0.04, Percent Change: +0.16