Midday movers: BlackBerry, Krispy Kreme, Sysco

The Wall Street averages are mixed and drifting at midday, as is typical for the dog days of August following the end of earnings season.

By MSN Money Partner Aug 12, 2013 1:25PM
copyright SuperStock, CorbislogoInformation provided by Theflyonthewall.com

Shares of smartphone maker BlackBerry (BBRY) rose 5% after the company announced that it would explore strategic options, including a potential sale of the company, joint ventures, and strategic partnerships or alliances.

Rockwell Collins (COL) slid 1.5% after the company agreed to acquire Arinc, an aviation-information management company, from Carlyle Group (CG) for $1.39B. Going the other way after a purchase, Pinnacle Foods (PF) advanced 4% after it agreed to buy the Wish-Bone and Western dressings brands from Unilever (UN, UL) for $580 million. 

Among the notable gainers Galectin Therapeutics (GALT), which gained 24% after receiving FDA fast track designation for a drug it is developing. Also higher were shares of Krispy Kreme Doughnuts (KKD), which rose more than 7% after being upgraded at Janney Capital ahead of the company's next quarterly report, due later this month. Among the noteworthy losers was Sysco (SYY), which fell 4% after reporting quarterly earnings and saying the ongoing environment has been more challenging than expected, making the company no longer believe it can grow its earnings per share to $2.50-$2.75 by fiscal year 2015. Also lower were shares of Vical (VICL), which dropped 57% after a Phase 3 trial of its melanoma drug missed its endpoints, and ECOtality (ECTY), which plunged 78% after warning it may need to consider bankruptcy. 
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