Midday movers: Best Buy, Lululemon, Navistar

The market gives back some of its earlier gains after Bernanke's testimony.

By MSN Money Partner Jun 7, 2012 12:39PM
Information provided by Theflyonthewall.com

Best Buy
(BBY) founder Richard Schulze suddenly resigned as chairman and gave up his seat on the company's board in order to "explore all available options" for his 20.1% stake in the company. Though Stifel Nicolaus wrote in a note to investors that Schulze's early resignation is a positive and the Star Tribune speculated Schulze may seek to take the company private, shares fell 90 cents, or 4.52%, to $18.99 near noon.
 
Pfizer (PFE) announced plans for a potential IPO of a minority ownership stake in its Animal Health business, resulting in the creation of a new standalone company to be called Zoetis.

Among companies reporting earnings Wednesday night and Thursday morning, J.M. Smucker (SJM) was notable as about the only significant advancer. Lululemon (LULU), Men's Wearhouse (MW), Annie's (BNNY) and Titan Machinery (TITN) all declined. 

Among notable gainers Thursday are CACI International (CACI), up 11%, after an upgrade to "buy" at Lazard Capital, which cited the company's increased revenue guidance and buybacks, and Identive Group (INVE), up 29%, after providing additional details on its workforce reduction plans and announcing a government contract.

Noteworthy losers include Molina Healthcare (MOH), down 29%, after the company withdrew its FY12 guidance due to unexpected losses in Texas, and Navistar (NAV), down 20%, following its unexpected report of steep quarterly losses driven by higher warranty costs and engine certification speculation.  
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.

124
124 rated 1
267
267 rated 2
467
467 rated 3
605
605 rated 4
645
645 rated 5
691
691 rated 6
617
617 rated 7
459
459 rated 8
313
313 rated 9
130
130 rated 10
12345678910

Top Picks

SYMBOLNAMERATING
AAPLAPPLE Inc10
ATVIACTIVISION BLIZZARD Inc10
BIDUBAIDU Inc10
BXTHE BLACKSTONE GROUP L.P10
CELGCELGENE CORP10
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.