CDC Software Corporation (CDCS), which is an enterprise software provider, hit the public markets last year. Other than raising some capital, another goal of the offering was to pull off some M&A deals.

And, this week CDC made a move: a $105.1 million offer for Chordiant Software (CHRD). So far in today's trading, the shares of the company are up 12% to $3.75.

MOST NOTEWORTHY: British Sky Broadcasting, ReneSola and Chordiant Software were today's noteworthy initiations:

• Jefferies believes British Sky Broadcasting's (NYSE:BSY) exposure to discretionary household expenditure seems more dangerous than it is. Shares were initiated with a Buy rating.
  
• Oppenheimer assumed ReneSola (NYSE: SOL) with a Perform rating and said it is waiting for margins to re-accelerate before becoming more constructive on shares.
  
• Chordiant Software (NASDAQ: CHRD) was initiated at B. Riley with a Buy rating and $7 target and believes the recent sell-off is overdone.

OTHER INITIATIONS:

• JMP Securities initiated American Capital (NASDAQ:AGNC) with an Outperform rating and $23 target.
  
• UBS assumed Omnicom Group (NASDAQ: OMC) and Interpublic Group (NYSE: IPG) with Neutral ratings and targets of $50 and $9.50, respectively.
  
• Real Goods Solar (NASDAQ: RSOL) was assumed at Broadpoint with a Buy rating and $10 target.

Nokia (NYSE: NOK) is up over 2% on news that it has launched new phones for emerging markets.

CarMax (NYSE: KMX) is up over 6% on better-than-expected earnings.

Superior Offshore (NASDAQ: DEEP) is down almost 16% on a delay of filing its 10-K.

Chordiant Software (NASDAQ: CHRD) is off over 12% on the forecast of a loss in the next quarter.

Stocks may trade differently in the regular session than they do in the pre-market.

Douglas A. McIntyre is an editor at 247wallst.com.