Midday movers: Coca-Cola, Goldman Sachs

Stocks are lower as investors digest data on inflation, industrial production and homebuilder confidence, along with earnings from two of the world's best-known brands.

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

Coca-Cola (KO) was the worst-performing member of the Dow Jones Industrial Average, sliding about 2% after its quarterly adjusted earnings per share matched estimates but its revenue fell a bit short of expectations. 

Fellow Dow member Johnson & Johnson (JNJ) reported results that beat on the top and bottom lines and raised its full-year earnings outlook, but its shares were little changed near noon.

Goldman Sachs (GS) reported headline earnings and revenue that beat expectations but its shares slipped almost 2% in midday trading. 

Among the notable gainers was SHFL Entertainment (SHFL), which rose over 21% to trade near $22.73 after agreeing to be to acquired by Bally Technologies (BYI) for $23.25 per share. Bally shares also advanced 7% following the deal announcement, while their peer in the gaming solutions industry, International Game Technology (IGT), rose nearly 1%. 

Among the noteworthy losers was Joe's Jeans (JOEZ), which plunged nearly 22% after its second-quarter results missed expectations, the company announced plans to buy Hudson Clothing for $97.6M, and its stock was downgraded at multiple research firms. 

Also lower were shares of auction marketplace Liquidity Services (LQDT), which fell 10% after the company lowered its view for third quarter adjusted earnings per share and gross merchandise volume. 
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