Midday movers: Best Buy, Knight Capital, Cognizant

The Nasdaq is within striking distance of 3,000.

By MSN Money Partner Aug 6, 2012 1:06PM
Information provided by Theflyonthewall.com

Best Buy (BBY) shares rose 10% to $19.40 after founder Richard Schulze made an offer to take the company private for $24 to $26 per outstanding share.

The roller coaster ride for Knight Capital (KCG) continued as the company received a $400 million investment via a convertible bond sale to investors, including Blackstone Group (BX), Jefferies (JEF), Stifel Nicolaus (SF) and TD Ameritrade (AMTD). The deal may save the company but will be highly dilutive to current shareholders, sending the stock down 22% to $3.16.

Standard Chartered Bank, a wholly owned subsidiary of the United Kingdom's Standard Chartered plc (SCBFF), was accused by the New York State Department of Financial Services of conspiring with Iran to hide 60,000 secret transactions involving at least $250 billion that violated New York securities laws.

Among the notable gainers Monday were Cognizant (CTSH), up 11%, after its Q2 results beat expectations, and Changyou.com (CYOU), up 16%, after the company's results also were better than expected and it declared a special one-time cash dividend. 

Among the noteworthy losers were Interpublic Group (IPG), down 9%, after Publicis Groupe (PUBGY) refuted a Financial Times report that said the two were in merger talks, and Tyson Foods (TSN), down nearly 5%, following its worse-than-expected quarterly results and lowered full-year guidance.

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.

105
105 rated 1
271
271 rated 2
420
420 rated 3
633
633 rated 4
492
492 rated 5
532
532 rated 6
725
725 rated 7
515
515 rated 8
343
343 rated 9
140
140 rated 10
12345678910

Top Picks

SYMBOLNAMERATING
UPLULTRA PETROLEUM Corp10
EOGEOG RESOURCES Inc10
SWNSOUTHWESTERN ENERGY COMPANY10
TAT&T Inc9
COPCONOCOPHILLIPS9
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.