Midday movers: Barnes & Noble, Best Buy

Stocks pare earlier losses as buyers move in to take advantage of perceived bargain prices.

By MSN Money Partner Aug 20, 2013 2:13PM
copyright SuperStock, CorbislogoInformation provided by Theflyonthewall.com

Barnes & Noble (BKS) fell over 15% after its chairman suspended efforts to buy the company's retail business.

Office Depot (ODP) shares rose about 1.5% after the company said it did not reach an a good-faith compromise with Starboard Value.

Home Depot (HD) is trading near the flat line after reporting better-than-expected Q2 EPS and revenue numbers.

J.C. Penney (JCP) rose slightly to 3.4% after the company released Q2 results and said it expects sequential improvement in the 2H13. 

Among the notable gainers was Best Buy (BBY), which surged 10% after it reported better-than-expected Q2 EPS and revenue. 

Also rising were shares of Urban Outfitters (URBN), which advanced nearly 9.5% after beating analyst estimates for Q2 earnings.

Among the noteworthy losers was Riverbed (RVBD), which fell 4% after it was downgraded at Deutsche Bank and JMP Securities due to a lack of growth catalysts and speculation that its president of the Products Group will resign. 

Also lower were shares of Dicks Sporting (DKS), which slipped over 6% following disappointing Q2 results.  
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