Midday movers: Chevron, Dell, Merck

Stocks are sharply higher following monthly jobs report for January and a better-than-expected reading on manufacturing expansion.

By MSN Money Partner Feb 1, 2013 2:20PM
logo Wall Street sign copyright Corbis, SuperStockInformation provided by Theflyonthewall.com

Two oil supermajors, Exxon Mobil (XOM) and Chevron (CVX) both reported quarterly earnings that beat expectations on revenues that missed the Street's forecasts. Shares of Exxon were nearly flat while Chevron was up nearly 1% near noon following their reports and corresponding investor calls.

General Motors (GM), Ford (F), Chrysler (FIATY) and Toyota (TM) all reported double-digit sales increases in January.

Among other advancers following earnings were Audience (ADNC), up 21%, PMC-Sierra (PMCS), up 13%, and Ctrip.com (CTRP), up 6%. 

Also higher were shares of Dell (DELL), which rose over 4% after Reuters said its planned "go private" deal may happen as soon as Monday.

Among the noteworthy losers was Merck (MRK), which fell almost 3% and was the only Dow component not rising at midday. The company's quarterly results beat expectations but it also announced it would delay its filing for approval of odanacatib, the company’s investigational osteoporosis drug. 

Also lower after their earnings reports were Life Time Fitness (LTM), down 20%, and National Oilwell Varco (NOV), down 4%. 
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