Midday movers: Citigroup, Leap Wireless

Stocks are higher following mixed domestic economic data and better-than-expected quarterly results from another of the nation's biggest banks.

By MSN Money Partner Jul 15, 2013 2:37PM
Corbis, SuperStocklogoInformation provided by Theflyonthewall.com

Citigroup (C) shares advanced a bit over 1% after the bank reported headline earnings and revenue that beat analysts' consensus forecast, joining its big bank peers JPMorgan (JPM) and Wells Fargo (WFC), which both did the same on Friday.

AT&T (T) announced after the close on Friday that it has agreed to acquire prepaid-wireless company Leap Wireless (LEAP) for $15.00 in cash per share plus a contingent value right related to proceeds of the future sale of an FCC license owned by Leap. The purchase prompted Leap Wireless to be upgraded by at least four Street research firms, as well as to more than double to trade near $17 at midday. 

Among the notable gainers were Inteliquent (IQNT), which rose 32% after the company raised its fiscal year revenue view, and Taylor Capital (TAYC), which advanced 21% after agreeing to be acquire by MB Financial (MBFI) for $680M, or $22 per share. 

Among the noteworthy losers was Ingredion (INGR), which slid 10% after announcing a quarterly earnings view that missed consensus and lowering its fiscal year earnings outlook. 

Also lower were shares of Alexion (ALXN), which gave back about 4% of the over 12% its shares gained Friday following a report that bigger pharma industry peer Roche (RHHBY) is looking for financing to make a takeover bid.  
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