Midday movers: Clearwire, Caribou Coffee, Cabelas

Stocks are higher as movement in Washington on some battleground issues is viewed as progress toward a compromise.

By MSN Money Partner Dec 17, 2012 1:57PM
logoInformation provided by Theflyonthewall.com

Wall Street sign copyright Corbis, SuperStockSprint (S) struck a deal to acquire the approximately 50% stake in Clearwire (CLWR) it does not already own for $2.97 per share, or $2.2 billion. Shares of the two companies moved in opposite directions after the announcement, with Sprint gaining about 0.25% and Clearwire declining almost 13%.

Among the notable gainers was Caribou Coffee (CBOU), which rose 30% after agreeing to be acquired by Germany's Joh. A. Benckiser for $16 per share in cash, or $340 million. 

Also higher were shares of Compuware (CPWR), up about 15% after Elliott Management offered to acquire the company for $11 per share in cash, or $2.3 billion. 

Among the noteworthy losers was Endeavour (END), which fell almost 21% after research firm Global Hunter downgraded the stock to "accumulate" from "buy" and cut its price target on shares to $9 from $13. 

Also lower was Cabelas (CAB), which slipped about 5% as one of the gun retailers and gun makers seeing its stock move lower in response to intensified calls for gun control following Friday's tragedy in Connecticut. 
Tags: CABCBOUCLWRS
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