Midday movers: Constellation Brands, Zynga

Stocks are higher amid encouraging data on June auto sales and May factory orders.

By MSN Money Partner Jul 2, 2013 1:26PM
Corbis, SuperStockInformation provided by Theflyonthewall.com

Ford (F) reported U.S. vehicle sales rose 13% from the prior year in June, while Chrysler (FIATY) saw sales grow 8% and General Motors (GM) reported a 6% increase.

Constellation Brands (STZ), the marketer of well-known wine and beer brands, including Arbor Mist, Corona and Modelo, reported first-quarter results that missed consensus estimates, sending its shares down 2%. 

Among the notable gainers Zynga (ZNGA), which rose another 8.5% after confirming last night that it has hired former Microsoft executive Don Mattrick as CEO. Shares had gained over 10% yesterday after AllThingsD reported Zynga's plan to add Mattrick. (Microsoft owns and publishes TopStocks, an MSN Money site.) 

Also higher was American Greetings (AM), which gained 5% after disclosing that the Weiss Family, which controls the company, proposed amending their merger agreement to increase the price offered per share to $19.00 from $18.20. 

Among the noteworthy losers was Achillion Pharmaceuticals (ACHN), which plunged 24% after FDA placed clinical hold on development of the company's hepatitis C drug sovaprevir. 

Also lower were shares of LINN Energy (LINE), down 14%, and LinnCo (LNCO), down 12%, after the companies announced that the SEC had begun probing them. 
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