Midday movers: Macy's, Akamai, Green Mountain

After a triple-digit move lower, the Dow is now well away from the 14,000 level again and the S&P is hovering just above 1,500.

By MSN Money Partner Feb 7, 2013 2:59PM
logoWall Street sign copyright Corbis, SuperStockInformation provided by Theflyonthewall.com

Noted investor David Einhorn and his fund, Greenlight Capital, said a legal action has been initiated against Apple (AAPL) over the company's refusal to unbundle three distinct corporate governance proposals, alleging that the bundling breaks SEC rules. 

Einhorn also said Apple rejected his idea for the creation of a "perpetual preferred stock," which he contends could unlock $32 per share for every $50 billion of preferred shares Apple issued.

A number of retailers reported double-digit increases in same-store sales in January, including Macy's (M), Kohl's (KSS) and Nordstrom (JWN). However, among those, only Macy's saw its shares trade higher, as the company also raised its Q4 EPS view by 3 cents at both ends of its prior range.

Among the notable gainers after earnings reports that spurred analyst upgrades were ViaSat (VSAT), up 22%, True Religion (TRLG), up 21%, and DeVry (DV), up 20%. 

Noteworthy losers that reported disappointing quarterly results and were downgraded on Wall Street included Akamai (AKAM), down 15%, and TriQuint (TQNT), down over 11%. 

Also lower after its earnings report was Green Mountain (GMCR), which slid 6% in spite of beating Q1 earnings expectations and raising its full year guidance. 
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