Midday movers: B&N, Sunoco, Hologic
Stocks edge lower on US consumer data.
Information provided by Theflyonthewall.comBarnes & Noble (BKS) shares surged after Microsoft (MSFT) agreed to invest $300 million for a 17.6% stake in the bookseller's new subsidiary. The as yet unnamed unit, being called Newco for now, will be composed of B&N's digital and college book businesses, but the company did not say whether it would take the new unit public. (Microsoft owns and publishes Top Stocks, an MSN Money site.)
Monster Beverage (MNST) jumped as much as 24% and was halted for multiple circuit breakers after the Wall Street Journal said Coca-Cola (KO) was in talks to buy the energy drink maker.
Among companies reporting earnings, Harman (HAR) was one of few advancers, while decliners included Humana (HUM), NYSE Euronext (NYX) and Sohu.com (SOHU).
Among the notable market gainers Monday were Sunoco (SUN), up 19%, on news it will be acquired by Energy Transfer Partners (ETP) in a unit and cash transaction valued at $50.13 per share, and Gen-Probe (GPRO), up almost 19%, after agreeing to be acquired by Hologic (HOLX) for $82.75 per share in cash.
Also higher again were shares of Warner Chilcott (WCRX), up nearly 16% after gaining 8% on Friday, as the company officially confirmed reports that it is exploring strategic alternatives, including a potential sale.
Noteworthy losers included Hologic, down 11%, following its deal to buy Gen-Probe, and VeriFone (PAY), down over 10%, after being downgraded to Sell at Deutsche Bank, which cited organic growth concerns and the company's poor financial disclosures.
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