Midday movers: Procter & Gamble, Zipcar, LinkedIn

Stocks climb as the monthly jobs report boosts investor optimism and wipes out losses generated by Central Bank disappointments.

By MSN Money Partner Aug 3, 2012 1:06PM
Information provided by Theflyonthewall.com

Procter & Gamble (PG) shares rose over 3% after its earnings beat consensus. However, the company's view of next quarter's earnings fell short of the Street's consensus. 

Among others reporting earnings, CBS (CBS) and Kraft (KFT) advanced while Activision Blizzard (ATVI) and WellCare (WCG) declined.

Knight Capital (KCG) rose over 27%, recovering a portion of the huge decline it has suffered over the last two days, as the Wall Street Journal reported that the company told brokers that it has secured a line of credit. Other media reports indicate Knight has hired Goldman Sachs (GS) and Sandler O’Neill as advisers as it looks to strike a deal to save itself.

Among the notable gainers Friday are LinkedIn (LNKD), up more than 12%, as the company and its shares continue to outperform its "social media" peers, and MercadoLibre (MELI), up 24%, after JPMorgan upgraded it to Overweight and raised its price target on shares to $100 following the company's better than expected second quarter. 

Among the noteworthy losers are Zipcar (ZIP), down 34%, as at least six firms downgraded the stock after the company cut its revenue forecast, and Molycorp (MCP), down 26%, after higher production costs weighed on its bottom line for Q2.
 
Tags: ATVIcbsKFTMCPMELIPGZIP
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