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.

Tags:

BBYBXCTSHJEFTSN

< Back to Top Stocks

0Comments

DATA PROVIDERS

Quotes are real-time for NASDAQ, NYSE and AMEX. See delay times for other exchanges.

Fundamental company data and historical chart data provided by Thomson Reuters (click for restrictions). Real-time quotes provided by BATS Exchange. Real-time index quotes and delayed quotes supplied by Interactive Data Real-Time Services. 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 SIX Financial Information.

Japanese stock price data provided by Nomura Research Institute Ltd.; quotes delayed 20 minutes. Canadian fund data provided by CANNEX Financial Exchanges Ltd.

Feedback

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.

128	268	471	584	656	593	673	423	262	141
1	2	3	4	5	6	7	8	9	10

Top Picks

SYMBOL	NAME	RATING
ABT	Abbott Laboratories	10
AIG	American International Group Inc	10
ATVI	Activision Blizzard Inc	10
CA	CA Inc	10
CSCO	Cisco Systems Inc	10

LATEST POSTS

Why the stimulus can never stop

The market's cheap money addiction is laid bare. No one knows how it will end.

FIDELITY VIEWPOINTS

VIDEO ON MSN MONEY

Feedback

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.

Bing Search

Top Stocks