Midday movers: Apple, Urban Outfitters

Stocks are higher as the prospects of US military action in Syria may have decreased as the diplomatic process moves forward.

By MSN Money Partner Sep 10, 2013 1:41PM
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The blue-chip Dow Jones Industrial Average will undergo its biggest shake-up in almost a decade, as Standard & Poor's announced this morning that Goldman Sachs (GS), Visa (V), and Nike (NKE) will join the 30-stock index after the close of trading on Friday, Sept. 20. The three new members will replace departing components Bank of America (BAC), Hewlett-Packard (HPQ), and Alcoa (AA).

Apple (AAPL) is expected to unveil a cheaper version of its iPhone, dubbed the iPhone 5C, along with its latest high-end phone, widely referred to as the iPhone 5S, at its event scheduled for Tuesday afternoon. Media reports have speculated for weeks as to what else the tech company may have up its sleeve, with debate as to whether the company will also reveal a new iPad and a revamped mobile operating system.

McDonald's (MCD) reported its same-store sales grew 1.9% in August, powered by a strong performance in Europe. 

Among the notable gainers was teen retailer Five Below (FIVE), which rallied nearly 17% after the company reported better than expected second quarter results. 

Also higher were shares of Inovio Pharmaceuticals (INO), which rose over 12% after the company entered into an exclusive worldwide license agreement with Roche (RHHBY). 

Among the noteworthy losers was Urban Outfitters (URBN), which fell 11% after the company disclosed in a regulatory filing that its same-store sales have been up by mid-single digits "thus far" in its fiscal third quarter.  
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