Midday movers: Caterpillar, Peabody, Nielsen

Stocks are mixed as a less-than-stellar earnings season continues.

By MSN Money Partner Oct 22, 2012 12:59PM

Wall Street sign copyright Corbis, SuperStock

Information provided by Theflyonthewall.com

Dow member Caterpillar (CAT) traded on either side of the baseline following its Q3 report. The company's quarterly earnings beat consensus expectations, but Caterpillar cut its outlook for earnings and revenue this year and said it expects 2013 sales will be similar to 2012.

Shares of Caterpillar were up about 1% near noon after its report and conference call.

Among others reporting results this morning, Peabody Energy (BTU) advanced while Freeport-McMoRan (FCX) and Nielsen (NLSN) declined.

Russia's state-owned energy company OAO Rosneft reached separate agreements to buy all of oil venture TNK-BP from BP (BP) and its Russian billionaire co-owners. BP will receive $17.1 billion in cash for its 50% stake, plus shares representing 12.84% of Rosneft. BP has also agreed to purchase an additional 5.66% stake in Rosneft, to take its total holding up to 19.75%.

Among the notable gainers were Cascade Corporation (CASC), up 18% after agreeing to be acquired by Toyota Industries for $65 per share in cash, and Ancestry.com (ACOM), up 8% after confirming it will be acquired by private equity firm Permira for $32 per share in cash in a transaction valued at $1.6 billion.

Among the noteworthy losers was Nexen (NXY), down over 5% after Canada refused to allow Malaysia's Petronas to buy another Canadian company, Progress Energy Resources. Investors worried that Canada may also block China's CNOOC (CEO) from following through on its agreement to purchase Nexen.

Also lower were shares of Overseas Shipholding Group (OSG), which fell 62% after disclosing that it is evaluating its strategic options, including a potential Chapter 11 bankruptcy filing, amid negotiations with its bank creditors and tax issues.

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