Midday movers: BP, Wal-Mart, Target

Stocks are lower again as disappointing guidance from the world's largest retailer weighed on the Dow and sentiment in general.

By MSN Money Partner Nov 15, 2012 2:10PM
Image, Wall Street sign copyright Corbis, SuperStocklogoInformation provided by Theflyonthewall.com

A number of retailers reported quarterly results last night and this morning, but none had a bigger impact on market sentiment than Wal-Mart (WMT). Wal-Mart's earnings beat consensus in the just- completed quarter, but its earnings view for the upcoming holiday quarter trailed the Street, sending shares of the Dow component down nearly 4%.

Conversely, Target (TGT) shares advanced over 2% after its current quarter earnings and its forecast for next quarter's profit beat expectations.

BP (BP) agreed to pay the largest criminal penalty in U.S. history for the Deepwater Horizon accident. The company said the aggregate amount of the settlement is about $4.5 billion, with payments scheduled over a period of six years, which is expected to result in an increase of approximately $3.85 billion to the $38.1 billion charge it took against income as of the end of September.

Among the notable market gainers Thursday was NetApp (NTAP), up almost 11% after its earnings beat expectations and shares were upgraded at Raymond James. 

Also higher after their quarterly reports were PetSmart (PETM), up over 5%, and Viacom (VIA, VIA.B), which rose more than 3%. 

Among the noteworthy losers was Tranzyme (TZYM), which plunged 75% after announcing a Phase 2b trial of a drug did not meet its primary endpoint. Also lower were shares of Diamond Foods (DMND), which saw Barclays slash its price target on shares to $12 from $25 after the company restated its results for the first three quarters of its fiscal year. Diamond Foods' stock fell 22% near midday.

 

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.

117
117 rated 1
280
280 rated 2
478
478 rated 3
656
656 rated 4
650
650 rated 5
640
640 rated 6
647
647 rated 7
482
482 rated 8
277
277 rated 9
126
126 rated 10
12345678910

Top Picks

SYMBOLNAMERATING
AAPLAPPLE Inc10
ATVIACTIVISION BLIZZARD Inc10
CTSHCOGNIZANT TECHNOLOGY SOLUTIONS10
FOXATWENTY-FIRST CENTURY FOX Inc CLASS A10
ITUBITAU UNIBANCO BANCO MULTIPLO S.A.10
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.