Midday movers: Netflix, LDK Solar, Terex

Stocks are higher, boosted, in part, by hopes the Fed will clarify its position on its current bond-buying program on Wednesday.

By MSN Money Partner Jun 17, 2013 2:03PM
 Wall Street sign copyright Corbis, SuperStocklogoInformation provided by Theflyonthewall.com

Shares of both Netflix (NFLX) and DreamWorks (DWA) climbed after the companies announced a major content deal. Under the agreement, DreamWorks will provide over 300 hours of content to Netflix, which the TV and movie service expects to start broadcasting next year. After the announcement, Netflix rose almost 7%, while DreamWorks advanced over 4%.

Activist investor Starboard Value disclosed a 5.7% stake in Smithfield Foods (SFD) and argued that the company could be worth $44-$55 if sold in parts. Smithfield, which has struck a deal to be acquired by China's Shuanghui for $34 per share, rose a bit less than 1% to just over $33 following the circulation of Starboard's letter to the company's board.

Among the notable gainers was Kandi Technologies (KNDI), which jumped 24% after saying it will deploy 5K-10K pure electric vehicles in China within the first year of launch. Also, Chinese solar energy stocks, including LDK Solar (LDK), Suntech Power (STP), Trina Solar (TSL) and Yingli Green Energy (YGE), jumped after the Chinese government ordered power producers and lenders to provide more support to the industry. 

Among the noteworthy losers was Terex (TEX), which fell over 9% after the company lowered it fiscal year earnings per share view. Also lower was Medivation (MDVN), which slumped 8% after Johnson & Johnson (JNJ) bought privately held Aragon Pharmaceuticals, which is developing a prostate cancer candidate that may compete with Medivation's treatment. 
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