Midday movers: MBIA, Tyson Foods

Stocks are slightly higher after both the Dow and S&P 500 cleared record round-number hurdles at the close of last week.

By MSN Money Partner May 6, 2013 2:00PM
Wall Street sign copyright Corbis, SuperStockInformation provided by Theflyonthewall.com

A team of private-equity firms led by Bain Capital and Golden Gate Capital agreed to buy BMC Software (BMC) for $46.25 per share in cash, or $6.9B. BMC shares, which were up over 9% over the last six months as the deal negotiations were widely reported, were flat at $45.42 near noon.

S&P announced after the close of trading Friday that Macerich (MAC) was selected to take the spot in the S&P 500 index that will be vacated by Coventry Health Care (CVH), which is being acquired by Aetna (AET). Shares of Macerich, which will be added to the S&P 500 as of the close of trading Wednesday, were nearly unchanged in midday trade. 

Among the notable gainers was MBIA (MBI), which surged over 40% after Dow Jones, citing sources, reported that the company had agreed to a $1.7B lawsuit settlement with Bank of America (BAC). 

Also higher was Arkansas Best (ABFS), which rose 30% after reaching a tentative labor agreement with the Teamsters union. 

Among the noteworthy losers were LINN Energy (LINE), which fell 7%, and its spin-off LinnCo (LNCO), which dropped nearly 8%, following a cautious mention in this weekend's Barron's magazine. 

Also lower were shares of Tyson Foods (TSN), which slid 4% after its earnings report. 

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