Midday movers: BlackBerry, Finish Line

Stocks are lower as traders position themselves for the end of the quarter, which comes to a close Friday.

By MSN Money Partner Jun 28, 2013 1:16PM
Corbis, SuperStocklogoInformation provided by Theflyonthewall.com

Shares of smartphone maker BlackBerry (BBRY) plunged over 24% after the company unexpectedly reported a first-quarter loss. The company reported its subscriber base shrunk last quarter and sales of its new line of BB10 devices fell short of expectations.

Sneaker and athletic product maker Nike (NKE) fell a bit over 1% in spite of quarterly earnings and revenue that beat expectation, as its guidance may have disappointed investors. Finish Line (FINL), which makes its money selling shoes from Nike and others, rose 4% after its own quarterly earnings beat expectations. 

Among the notable gainers was Halozyme Therapeutics (HALO), which rose 25% after its partner Roche (RHHBY) received a positive recommendation from the European Medicines Agency for a drug which uses Halozyme technology. 

Also higher were shares of Arkansas Best (ABFS), which advanced 10% after employees of one of its units represented by the Teamsters ratified a five-year labor agreement. 

Among the noteworthy losers were a number of home health agencies, including Amedisys (AMED), which fell 13a% after the Centers for Medicare & Medicaid Services proposed 2014 reimbursement cuts for the group. Also lower were shares of consulting company Accenture (ACN), which dropped 11% after the company reduced its fiscal 2013 earnings per share guidance and provided lower than expected fourth quarter revenue guidance. 

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