Midday Movers: LM, WMT & More

Market Insider | What's Shaking | Stocks to Watch

Take a look at some of Thursday's midday movers:

Legg Mason spiked higher following a report that the Board of the asset management company had rejected a plan to take the company private.

Wal-Mart declined on documents that showed CEO Michael Duke knew of the Mexican bribery allegations in 2005.

Research In Motion gained after a note noting that Verizon, AT&T and T-Mobile USA will all carry the BB10 operating system when it is released on January 30.

MGM Resorts was lower after a downgrade by Nomura to "neutral" from "buy," citing valuation.

Nokia had its best day in nearly 12 years after posting better-than-expected fourth-quarter earnings.

Morgan Stanley climbed after Third Point unveiled a new equity position in the financial services company. In a letter, Third Point says that Morgan Stanley needs to set the "right tone" at the boad level and that one director is "familiar" to the hedge fund run by Daniel Loeb. CNBC has learned that Roy Bostock is the director that is "familiar to Third Point fund managers.

Best Buy and Netflix were both higher. While there is no specific news, chatter from Consumer Electronics Show in Las Vegas is that Smart TV is a sector to watch.

—By CNBC's Lori Spechler

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