Midday movers: Acme Packet, Credit Suisse

Stocks are sharply lower, with the major averages giving back most or all of Friday's gains.

By MSN Money Partner Feb 4, 2013 2:54PM
Wall Street sign copyright Corbis, SuperStockInformation provided by Theflyonthewall.com

Shares of Acme Packet (APKT) surged 22.2% and traded at the $29.25 price it agreed to in a deal to be acquired by Oracle (ORCL). Several companies offering solutions in the same technology area advanced as well, particularly Sonus Networks (SONS), which climbed over 13%. 

Meanwhile, Oracle slid a bit more than 2% following the deal announcement.

Among companies reporting earnings this morning, Humana (HUM) advanced while Gannett (GCI) declined

Among the notable gainers was Cyberonics (CYBX), which rallied 8% after a former employee dropped a lawsuit against the company. Also higher were shares of Brown & Brown (BRO), which rose 5.5% after it reported quarterly results after the bell Friday and was upgraded to "outperform" at Raymond James this morning. 

Among the noteworthy losers were Youku Tudou (YOKU), which fell over 6% after Maxim downgraded shares to a "sell" rating, and Credit Suisse (CS), down nearly 6% as well following an initiation of coverage with a "hold" rating at Canaccord.
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