Midday movers: F5 Networks, Facebook

Stocks are down as a weaker-than-expected jobs report sent the markets sharply lower at the open, though the averages moved off their lowest levels near noon.

By MSN Money Partner Apr 5, 2013 1:12PM
Wall Street sign copyright Corbis, SuperStocklogoInformation provided by Theflyonthewall.com

Shares of F5 Networks (FFIV) were down almost 18% near noon after the company announced preliminary Q2 earnings last night that were well below analysts' expectations. F5 Networks attributed its anticipated Q2 results to sharply lower telecom and government sales, and several peers were trading lower near noon, including Juniper Network (JNPR), down about 5%, and Riverbed Technology (RVBD), down over 2%.

Facebook (FB) shares were up about 2% near noon after the stock was upgraded to Buy from Hold at Argus, citing its new Facebook Home application as potential catalyst for the company's mobile presence.

Among notable gainers was NII Holdings (NIHD), up over 16% after the company announced the sale of its Nextel Peru unit for $400M. Among noteworthy losers was Rigel Pharmaceuticals (RIGL), down over 35% after announcing mixed results from a phase 3 study of fostamatinib. 

Also lower were shares of Radware (RDWR), down over 22% reporting preliminary earnings that were short of consensus expectations. 
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