Information provided by Theflyonthewall.com
The deadline for Best Buy's
) founder, Richard Schulze, to make an offer to take the company private passed without a bid being made, but the company's stock managed to rise modestly following its report of better-than-expected
sales and adjusted profit during the holiday quarter.
Schulze stated in a regulatory filing that he facilitated various offers that would have resulted in private equity investments into the company but the proposals were rejected and that the company now "deserves a chance to implement its own plan."
Best Buy shares jumped at the open, but moved lower during the morning, and were up about 1% near midday.
Among the notable gainers following their earnings reports were Deckers Outdoor
), up 14%, and Salesforce.com
), up over 7%. Also higher were shares of Sauer-Danfoss
), which rose 8.5% after it announced that Danfoss would acquire the 24.4% of the common shares it does not already own for $58.50 per share in cash. Among the noteworthy losers was Atlantic Power
), down 29%, after its quarterly report disappointed and the company cut its dividend. Also lower after earnings reports were Foster Wheeler
), down 16%, and McDermott
), down over 13%.