Midday movers: HP, Rue21, Cirrus Logic

Stocks are a bit lower this afternoon but well off their earlier lows.

By MSN Money Partner May 23, 2013 1:48PM
Wall Street sign copyright Corbis, SuperStocklogoInformation provided by Theflyonthewall.com

Shares of Hewlett-Packard (HPQ) gained 14% near midday after the company's first quarter earnings and full-year profit outlook beat market expectations. HP shares were upgraded to Hold from Underperform at Jefferies following the report, while Goldman said the company had a solid quarter but the firm remains cautious on the stock. 

Among the notable gainers were Rue21 (RUE), which rose nearly 23% after agreeing to be acquired by Apax Partners for $42 per share, and Lender Processing Services (LPS), which gained over 12% after The Wall Street Journal said Fidelity National (FNF) and Thomas H. Lee Partners are in talks to acquire the company for about $2.9B. 

Among the noteworthy losers was Cirrus Logic (CRUS), which tumbled more than 17% after reducing its long-term margin outlook. Also lower were shares of a number of Japanese financial stocks, including Mitsubishi UFJ (MTU), down almost 8%, and Nomura (NMR), which fell over 8%.  


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.

116
116 rated 1
265
265 rated 2
429
429 rated 3
612
612 rated 4
499
499 rated 5
525
525 rated 6
701
701 rated 7
533
533 rated 8
337
337 rated 9
131
131 rated 10
12345678910

Top Picks

SYMBOLNAMERATING
UPLULTRA PETROLEUM Corp10
COPCONOCOPHILLIPS9
TAT&T Inc9
DVNDEVON ENERGY CORPORATION9
EOGEOG RESOURCES Inc9
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.