Midday movers: Theravance, Jos. A. Bank

Stocks are mixed, as investors weigh better-than-expected April retail sales against a report that the Fed has mapped out an exit strategy from its bond-buying program.

By MSN Money Partner May 13, 2013 1:39PM
 Wall Street sign copyright Corbis, SuperStocklogoInformation provided by Theflyonthewall.com

The Supreme Court ruled unanimously that Monsanto's (MON) patented genetically altered soybeans are protected and that farmers cannot use them to create new seeds without paying the company. The ruling, which is in keeping with prior decisions by lower courts, failed to spur its shares higher, as Monsanto's stock traded fractionally lower near midday.

Dell's (DELL) special committee publicly asked for more information from Carl Icahn and Southeastern Asset Management about their proposed leveraged recapitalization. 

Among its many questions and points, the letter to the investors stated, "Your proposal does not appear to take into account the additional borrowings that would seem to be required to address the liquidity needs that would result from the extent to which you would use the Company’s cash in the transaction." 

Among the notable gainers was Theravance (THRX), which rose 15% after Elan Corporation (ELN) bought a stake in the potential future royalty payments from four respiratory programs partnered with GlaxoSmithKline (GSK) in exchange for $1 billion in cash. Also higher were shares of Perion Network (PERI), which gained about 12% after the company's earnings report. 

Among the noteworthy losers was Jos. A. Bank (JOSB), which fell 7% after guiding to quarterly earnings that missed the consensus forecast. Also lower were shares of Qihoo 360 (QIHU), which slid almost 5% amid foreign-language reports that suggest the company may have agreed to an all-stock transaction to acquire Sohu's (SOHU) search engine business. 
0Comments

DATA PROVIDERS

Copyright © 2014 Microsoft. All rights reserved.

Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.

STOCK SCOUTER

StockScouter rates stocks from 1 to 10, with 10 being the best, using a system of advanced mathematics to determine a stock's expected risk and return. Ratings are displayed on a bell curve, meaning there will be fewer ratings of 1 and 10 and far more of 4 through 7.

109
109 rated 1
276
276 rated 2
421
421 rated 3
629
629 rated 4
511
511 rated 5
538
538 rated 6
686
686 rated 7
507
507 rated 8
331
331 rated 9
109
109 rated 10
12345678910

Top Picks

SYMBOLNAMERATING
KOGKODIAK OIL & GAS Corp10
UPLULTRA PETROLEUM Corp10
TAT&T Inc9
COPCONOCOPHILLIPS9
DVNDEVON ENERGY CORPORATION9
More

VIDEO ON MSN MONEY

ABOUT

Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.

Contributors include professional investors and journalists affiliated with MSN Money.

Follow us on Twitter @topstocksmsn.