Midday movers: Wal-Mart, Cisco, Tesla

Stocks are virtually unchanged following a deluge of domestic economic data this morning.

By MSN Money Partner May 16, 2013 1:48PM
Wall Street sign copyright Corbis, SuperStocklogoInformation provided by Theflyonthewall.com

Earnings reports from two Dow members Wal-Mart (WMT) and Cisco (CSCO), sent their shares in opposite directions. 

Cisco shares advanced 12% to lead the blue chip index after the company's results beat expectations on the top and bottom lines and prompted price target increases at several analyst firms. 

Wal-Mart, in contrast, lagged all Dow names, sliding 2% after its earnings for the just ended quarter and its view of the current quarter missed the consensus forecast.

After the closing bell Wednesday, Tesla Motors (TSLA) said it intends to raise about $830M by offering 2.7M common shares and $450M in convertible senior notes. CEO Elon Musk will buy $100M worth of the stock and debt, the company said, and its recently high-flying shares rose another 6%. 

Among the notable gainers rising following Cisco's better than expected results and commentary were Ciena (CIEN), which rose 8%, and Cavium (CAVM), which advanced 4%. 

Also higher were shares of NetApp (NTAP), which gained over 6% after Bloomberg said activist investor Elliott Management has taken a stake in the company and is pushing its board to explore ways to boost shareholder value. 

Among the noteworthy losers were Oncothyreon (ONTY), which fell 20%, and Biomarin (BMRN), down 5%, after both pharmaceutical companies, among a number of others, published data to be presented at ASCO, an annual meeting of oncologists. 

Also lower was AMD (AMD), which declined 14% following a downgrade to Sell at Goldman Sachs. 
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.

111
111 rated 1
272
272 rated 2
474
474 rated 3
656
656 rated 4
638
638 rated 5
699
699 rated 6
623
623 rated 7
486
486 rated 8
260
260 rated 9
128
128 rated 10
12345678910

Top Picks

SYMBOLNAMERATING
DYNDYNEGY Inc10
TAT&T Inc9
VZVERIZON COMMUNICATIONS9
EXCEXELON CORPORATION8
AAPLAPPLE Inc10
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.