Midday movers: Best Buy, Procter & Gamble

Stocks are down despite a decline in initial jobless claims.

By MSN Money Partner Oct 25, 2012 1:29PM
Wall Street sign copyright Corbis, SuperStockProcter & Gamble (PG) rose about 3% after its earnings beat expectations and it backed its full-year profit outlook. 

Among others reporting earnings, Zynga (ZNGA), Royal Caribbean (RCL) and Wynn Resorts (WYNN) advanced, while Cabela's (CAB), F5 Networks (FFIV) and ServiceNow (NOW) declined.

Among the notable gainers was PSS World Medical (PSSI), up 33% after agreeing to be acquired by McKesson Corporation (MCK) for $29 per share in cash. 

Among the noteworthy losers was Best Buy (BBY), which fell 10% after it warned that its Q3 earnings would drop "significantly" from last year and that its comparable sales would be down again, as they were in the first two quarters of this year. 

Also lower were shares of Spirit AeroSystems (SPR), down 30% after it announced a settlement of severe weather insurance claims, said it will recognize a number of Q3 charges for new programs and saw its stock downgraded to "neutral" from 'buy" at Buckingham. 
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