Midday movers: Wells Fargo, Boeing, WebMD

Stocks are slightly lower following earnings reports from two of the nation's largest banks and a profit warning from the biggest delivery company.

By MSN Money Partner Jul 12, 2013 1:51PM
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JPMorgan (JPM) and Wells Fargo (WFC) both reported headline earnings and revenue that beat analysts' consensus forecast. Wells Fargo shares rose nearly 2% afterward, while JPMorgan was fractionally higher.

Another bellwether company, UPS (UPS), saw its shares fall almost 6% after the company reduced its guidance for 2013 earning per share, citing overcapacity in the global air freight market, increasing customer preference for lower-yielding shipping solutions, and a slowing U.S. industrial economy. Peer FedEx (FDX) slid over 2% as well.

Boeing (BA) declined more than 6% following a fire at Britain's Heathrow airport involving one of the company's 787 jets, which is the same model of plane that had previously been grounded over concerns about the potential for its batteries to ignite. 

Among the notable gainers was athenahealth (ATHN), which jumped over 15% after inking a deal with Ascension that prompted bullish analyst notes from Leerink Swann and Piper Jaffray. 

Also higher were shares of WebMD (WBMD), which advanced 26% after the company's preliminary quarterly results beat consensus and it raised its full-year revenue outlook. 

Among the noteworthy losers were Ceres (CERE), which dropped 27% after the company said the commercial ramp of sweet sorghum in Brazil is likely to fall below expectations this year and its shares were downgraded by multiple Wall Street research firms. 

Also lower were shares of The Medicines Co. (MDCO), which fell 8% following a court ruling related to patent lawsuit related to one of its drug. 
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