Mid-Market Report: Prestige Scoops Up Insight for $750 Million

Prestige Brands (NYSE:PBH) is buying Insight Pharmaceuticals for about $750 million.

Privately-held Insight makes the EPT home pregnancy test, while Prestige sells household cleaning products and other over-the-counter treatments like Chloraseptic for sore throats, and Pediacare.

Meanwhile, Wet Seal (NASDAQ:WTSL) says it will start to wind down its Arden B brand. The women's clothing retailer says it expects to have transitioned 31 Arden B stores to Wet Seal plus merchandise and the remaining 23 locations to regular Wet Seal merchandise by the start of the back-to-school season in late July.

The move comes as Wet Seal turns its attention to shoring up its namesake brand amid falling sales.

And software company Gigamon (NASDAQ:GIMO) reported better-than-expected first-quarter revenue of $31.8 million. That's despite a large deal with a customer that didn't materialize and other deals slipping into the second quarter. Investment firm D.A.  Davidson says with a difficult quarter behind Gigamon, it expects growth to resume.