Stocks have given back their premarket gains, with all three benchmarks modestly lower following this morning's highly-anticipated inflation data. Minutes from the Federal Reserve’s March policy meeting are due out later today, offering investors more insight as well. Meanwhile, for the first time in three weeks, the Energy Information Administration (EIA) reported a rise in U.S. crude supplies. 

Options bulls are targeting National Instruments Corp (Nasdaq: NATI) today, after news that Emerson Electric (EMR) will acquire the company for $8.2 billion. So far, 36,000 calls have been exchanged -- 24 times the intraday average -- in comparison to 3,266 puts. The April 52.50 call is the most active, followed by the April 57.50 call, with new positions being opened at the latter. At last glance, NATI was up 9.5% at $57.60, and earlier hit a record high of $57.74. 

TESSCO Technologies Inc (Nasdaq: TESS) is at the top of the Nasdaq and trading at two-year highs, after news that the company is to be acquired by entities affiliated to private equity firms Lee Equity Partners and Twin Point Capital for $161.4 million. TESS is up 86.8% at $8.78 at the last check, and sporting a 44.4% year-over-year lead. 

Meanwhile, the shares of Cutera Inc (Nasdaq: CUTR) are down 30.8% at $18.77 at last glance, after the medical equipment name fired CEO David Mowry and Executive Chairman Daniel Plants for disclosing "highly confidential internal deliberations of the board." Year-to-date, the equity is down 58%. 

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