Midday movers: Cisco, Facebook, Best Buy
Stocks get a boost from housing outlook.
Credit Suisse (CS) and HSBC (HBC) turned in thousands of employee names to the U.S. Justice Department as they seek leniency for their alleged role in helping American clients evade taxes, according to Bloomberg.
Apple (AAPL) is in talks with cable operators about letting consumers use an Apple device as a set-top box for live TV and other content, according to The Wall Street Journal.
Cisco (CSCO) raised its quarterly dividend by 75% after reporting its Q1 results.
Coinstar (CSTR) is said to be holding talks about a potential sale while it considers expanding its vending machines to include coffee and photo printing.
Zynga (ZNGA) has begun investing in lobbying efforts around gambling with real money, even though it predicts the U.S. will not be the initial market for the business.
Among the notable gainers Thursday were Best Buy (BBY), after founder Richard Schulze sent a letter to the board requesting permission to form a group and conduct due diligence so that he can present a fully financed offer for the company; and Illinois Tool Workers (ITW), after it agreed to divest majority interest in its Decorative Surfaces segment.
Noteworthy losers included Facebook (FB), after the lock-up period expired for investors that brought the company public; and Idenix Pharmaceuticals (IDIX), after the FDA put a partial clinical hold on IDX184.
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A light news day combined with heavy technicals weighed on the market.
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