Midday movers: DuPont, Coty, Gannett

Stocks are higher as retail sales rose more than expected in May and first-time unemployment applications fell last week.

By MSN Money Partner Jun 13, 2013 2:21PM
Corbis, SuperstocklogoInformation provided by Theflyonthewall.com

Shares of DuPont (DD) slid 1% after the company provided second-quarter earnings per share guidance that was below analysts' expectations and said it now expects full-year earnings to be at the low end of its previous $3.85-$4.05 guidance.

The Supreme Court unanimously ruled that human genes isolated from the body can't be patented, but also said that DNA molecules synthesized in a laboratory can be patent protected, sending shares of Myriad Genetics (MYGN) up 10%.

Shares of cosmetics and fragrance giant Coty (COTY) slipped in their first day of trading on the New York Stock Exchange following their initial public offering. 

Among the notable gainers were Belo (BLC) and Gannett (GCI), which both rose after the companies agreed to merge. Gannett agreed to buy Belo for $13.75 per share in cash, or approximately $1.5B, plus assume $715M in existing debt in a deal that the company sees adding to its non-GAAP earnings per share by approximately 50c within the first 12 months. Belo surged 27% after the announcement, while Gannett jumped 26%. 

Among the noteworthy losers was Elan (ELN), which fell nearly 3% after Royalty Pharma says one of Elan's shareholder proposals looks set to pass and that could force Royalty's takeover offer to be withdrawn next week. Also lower were shares of Williams (WMB), which dropped 1% after an explosion occurred within an olefins plant owned by the company.

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