Midday movers: Krispy Kreme, Apache, US Air

Stocks are lower as the market's worst month in some time looks set to have a fitting last day of trading.

By MSN Money Partner Aug 30, 2013 1:45PM
copyright SuperStock, Corbislogo Information provided by Theflyonthewall.com

Shares of doughnut and coffee retailer Krispy Kreme (KKD) have plunged 14% after the company reported lower-than-expected second-quarter profits.

Shares of energy explorer Apache (APA) rose after the company announced a deal to sell a 33% stake in its Egyptian business to China's Sinopec for $3.1B in cash. A number of analysts reacted positively to the news and Apache's stock advanced about 7% near noon. 

A judge sided with US Airways (LCC) and American Airlines parent AMR Corp. (AAMRQ) and set a November date for a trial to rule on the Department of Justice's challenge to the airlines' proposed merger. Shares of US Air rose 4% and AMR shares were up nearly 9% following the ruling. 

Among the notable gainers was enterprise cloud computing provider Salesforce.com (CRM), which rose 14% after the company beat second quarter estimates and raised its full year 2014 outlook. Also higher following its earning report was another tech name, Splunk (SPLK), which was upgraded at FBR Capital and gained 11%. 

Among the noteworthy losers was image-sensor devices company OmniVision Technologies (OVTI), which fell over 15% after the company's first quarter revenue fell shy of consensus estimates and it issued disappointing guidance.  

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