Midday movers: Home Depot, Macy's, Saks

Stocks are mixed, with the Dow supported by the post-earnings performance of Home Depot.

By MSN Money Partner Feb 26, 2013 2:09PM
: Wall Street sign copyright Corbis, SuperStockInformation provided by Theflyonthewall.com


Home Depot (HD) shares advanced nearly 6% and lifted the Dow Jones Industrial Average after its earnings and revenue beat expectations. 

The company also increased its quarterly dividend by 34% and announced authorization to repurchase up to $17 billion of its outstanding shares.

Two other retailers reported better than expected quarterly results, but their stocks moved in opposite directions. Shares of Macy's (M) advanced 3% after its earnings and guidance beat forecasts, but Saks (SKS) shares declined fractionally following a quarterly report that also beat consensus.

Cablevision (CVC) announced it filed an antitrust lawsuit against Viacom (VIA, VIAB), alleging the content provider illegally forced it to carry and pay for lesser-watched networks in order to carry must-have channels like Nickelodeon, MTV and Comedy Central.

Among the notable gainers was CommonWealth REIT (CWH), which surged about 30% after Corvex Management and Related Fund Management said they obtained a 9.8% stake in the REIT, demanded it cease a debt repurchase initiative, and said that they would be willing to acquire all of CommonWealth's shares at a significant premium to their market value as of yesterday. 

Also higher were shares of Assisted Living Concepts (ALC), which rose over 22% after the company agreed to be acquired by TPG for $12.00 per Class A share. 

Among the noteworthy losers following their earnings reports were Vitamin Shoppe (VSI), which fell 19%, and Titan International (TWI), which slid about 16%. Also lower were shares of AMC Networks (AMCX), which declined 6% after it reported quarterly results, including cash flow, that was negatively impacted by its fight with Dish Networks (DISH).  
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