Midday movers: Caterpillar, Halliburton, Microsoft
The Wall Street averages were mixed at midday as advances in Apple, Microsoft buoyed the Nasdaq, but GE's continued slide weighed on the Dow.
Information provided by
Caterpillar (CAT) reported earnings and revenue that missed consensus, and the company cut its full year forecast. However, shares rose over 0.5% near noon in response to the quarterly report.
Another large cap company that reported this morning, Halliburton (HAL), advanced more than 4% in spite of recording a $637 million charge to increase its reserve related to lawsuits over the Macondo oil spill. The company's revenues and earnings excluding the charge beat expectations.
The hedge fund ValueAct has increased its already sizable stake in Microsoft (MSFT) to $2 billion, according to CNBC's David Faber. The position building may signal plans take up an activist stance and push for changes at the tech giant, whose shares gained nearly 4% following the report. (Microsoft owns and publishes Top Stocks, an MSN Money site.)
Among the notable gainers were two companies being acquired: Power-One (PWER) rose 57% to trade near $6.34 after agreeing to be acquired by ABB (ABB) for $6.35 per share in cash, and Met-Pro (MPR) advanced 39% to trade near $13.34 after CECO Environmental (CECE) struck a deal to buy Met-Pro in a cash and stock transaction valued at $13.75 per share.
Among the noteworthy losers was Magnum Hunter (MHR), which fell 8% after Deutsche Bank downgraded the stock to Hold and lowered its price target for shares to $3.50 from $7.
Also lower were shares of NVR Inc (NVR), down 8% after its earnings report.
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.
As geopolitical tensions threaten to spin out of control, investors are wondering how best to position their portfolios for the global turmoil.
VIDEO ON MSN MONEY
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.