Midday movers: Sears, Monsanto

Stocks are lower again as investors shift their focus from the fiscal cliff to the fourth-quarter earnings season, set to unofficially kick off after the closing bell.

By MSN Money Partner Jan 8, 2013 2:32PM
Wall Street sign copyright Corbis, SuperStocklogoInformation provided by Theflyonthewall.com


Sears Holdings (SHLD) said late Monday that CEO Louis D'Ambrosio will step down due to family health reasons and be replaced in that role by Eddie Lampert, its chairman of the board and largest shareholder. 

Sears also forecast adjusted earnings for Q4 that beat consensus expectations but shares fell about 5% near noon.

Among companies reporting earnings after Monday's close or before Tuesday's open, Monsanto (MON) advanced and Acuity Brands (AYI) declined.

Among the notable stock market gainers Tuesday were The Medicines Company (MDCO), up 11% after announcing results for a Phase 3 trial of one of its drugs, and Signet Jewelers (SIG), up 9% after reporting its holiday season same-store sales rose 3.3% and issuing earnings guidance. 

Among the noteworthy losers were Cypress Semiconductor (CY), down 9% after cutting its Q4 earnings forecast, and Fusion-io (FIO), which fell 8% after William Blair downgraded the stock to Market Perform. 
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