Midday movers: FedEx, Adobe

Stocks are down as investors await the conclusion of the Fed’s FOMC meeting.

By MSN Money Partner Sep 18, 2013 1:55PM
SuperStock, CorbislogoInformation provided by Theflyonthewall.com

FedEx (FDX) shares gained nearly 3% after the shipping company's earnings beat consensus expectations.

Walgreens (WAG) announced that it would begin providing health insurance to more than 160,000 of its employees through a private health insurance exchange. Walgreens' announcement weighed on Catamaran (CTRX), which appears to have lost that business, and its peer Express Scripts (ESRX). Investors may be fearing Walgreens' move is another sign of an emerging trend of large companies providing benefits to their employees through private exchanges, which some may worry will be a negative for pharmacy benefit management companies. 

Among the notable gainers was Atossa Genetics (ATOS), which rose 30% after entering into a nationwide distribution agreement with McKesson Medical-Surgical (MCK). Also higher were shares of Adobe Systems (ADBE), which advanced over 7% after the company announced worse than expected quarterly earnings and revenues, but better than expected creative cloud subscription growth. 

Among the noteworthy losers was Tower Group (TWGP), which plunged 26% after the company delayed its Q2 results and its stock was downgraded at FBR Capital. 

Also lower was Triumph Group (TGI), which fell 10% after saying it expects to record pre-tax additional program costs of about $68M primarily associated with its 747-8 program. 
0Comments

DATA PROVIDERS

Copyright © 2014 Microsoft. All rights reserved.

Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.

STOCK SCOUTER

StockScouter rates stocks from 1 to 10, with 10 being the best, using a system of advanced mathematics to determine a stock's expected risk and return. Ratings are displayed on a bell curve, meaning there will be fewer ratings of 1 and 10 and far more of 4 through 7.

126
126 rated 1
286
286 rated 2
474
474 rated 3
680
680 rated 4
626
626 rated 5
609
609 rated 6
620
620 rated 7
462
462 rated 8
304
304 rated 9
132
132 rated 10
12345678910

Top Picks

SYMBOLNAMERATING
AAPLAPPLE Inc10
BIDUBAIDU Inc10
BXTHE BLACKSTONE GROUP L.P10
CELGCELGENE CORP10
FOXATWENTY-FIRST CENTURY FOX Inc CLASS A10
More

VIDEO ON MSN MONEY

ABOUT

Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.

Contributors include professional investors and journalists affiliated with MSN Money.

Follow us on Twitter @topstocksmsn.