Midday movers: Best Buy, Clearwire

Stocks are lower, extending the slide that began late Wednesday following Ben Bernanke's press conference.

By MSN Money Partner Dec 13, 2012 2:34PM
Image, Wall Street sign copyright Corbis, SuperStocklogoInformation provided by Theflyonthewall.com

Best Buy (BBY) jumped over 15% after Minneapolis' Star Tribune said the company's founder Richard Schulze may make a fully financed $5B-$6B buyout offer by the end of the week.

Clearwire (CLWR) rose nearly 14% to $3.13 after Sprint (S) disclosed that it offered $2.90 per share for the remaining stake in the company it does not already own. Clearwire said that its talks with Sprint are ongoing.

Among the notable gainers were ZAGG (ZAGG), up 15% after announcing a $10 million share repurchase program, and MBI (MBIA), up 6.5% following positive analyst commentary about the potential for a settlement with Bank of America (BAC). 

Among the noteworthy losers was Rigel Pharmaceuticals (RIGL), which fell almost 35% after an RA drug it is developing in partnership with AstraZeneca (AZN) failed to meet one of its endpoints in a trial. Shares of AstraZeneca, meanwhile, fell 2.6%. Also lower were shares of Allot Communications (ALLT), down over 11% following a downgrade to "hold" at Wunderlich.

 
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