Midday movers: Pandora, Apollo Group

Stocks are higher, even though the estimate of first quarter GDP growth was revised lower.

By MSN Money Partner Jun 26, 2013 2:34PM
Corbis, SuperStockInformation provided by Theflyonthewall.com

Monsanto (MON), which has made headlines in recent weeks due to the discovery of unapproved genetically modified wheat in an Oregon field, reported adjusted earnings that beat expectations but revenues that fell short of consensus. Shares of the company, which also affirmed its previous fiscal year 2013 earnings outlook, rose fractionally near midday. 

Among the notable gainers was Pandora (P), which rose over 5% following an upgrade at research firm Cowen as well as a report that the company is holding preliminary talks with musicians to settle disputes over royalties. Also higher were shares of Raptor Pharmaceuticals (RPTP), which gained 20% after the company was granted orphan drug exclusivity for one of its drug by the FDA.

 Among the noteworthy losers were Apollo Group (APOL), which slid 9% after its third quarter revenue came in below expectations, and Rogers Communications (RCI), which fell 8% following a report that Verizon (VZ) is moving ahead with its efforts to expand into Canada's wireless market. 
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