Midday movers: Barnes & Noble, Intel, Body Central
Stocks are mixed as elections in Greece fail to significantly calm investors.
Microsoft (MSFT) plans to hold a product announcement event after the bell today that has generated a good deal of buzz for Barnes & Noble (BKS). The bookseller's shares opened higher following reports that the event would be related to a tablet to be launched in partnership between the two companies, but the stock dropped after Dow Jones said B&N was not going to be involved in today's announcement.
However, near noon, Barnes & Noble shares were up about 1%, while Microsoft was down a bit more than 0.5%.
Intel (INTC) agreed to acquire about 1,700 patents, primarily related to 3G, LTE and 802.11 technologies, from InterDigital (IDCC) for $375 million. InterDigital also said it was doubling its stock buyback program to $200 million following the deal.
Among the notable gainers Monday are Extorre Gold (XG), up about 54% to $4.09, on news it will be acquired by Yamana Gold (AUY) in a cash and stock deal valued at $4.26 per share, and Elster (ELT), up over 16% to $19.08, after confirming that it is negotiating to be acquired by Melrose for $20.50 per share.
Noteworthy losers include Body Central (BODY), down 46%, after lowering its guidance and noting that its current quarter comparable sales remain soft and have not improved since April, and SAIC (SAI), down nearly 4%, after the company lost a large government contract to Lockheed Martin (LMT).
Also lower were shares of DSW Inc. (DSW), down over 11%, after the company warned that it sees its current quarter earnings missing consensus estimates.
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The offering could become the second-biggest this year if underwriters exercise an option to buy more shares.
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