Midday movers: Walgreen, Cardinal, Lululemon

Stocks slide as ongoing fear about the situation in Europe trumps bright housing data.

By MSN Money Partner Mar 19, 2013 1:11PM
Wall Street sign copyright Corbis, SuperStocklogoInformation provided by The flyonthewall.com

Walgreen (WAG) reported earnings that beat expectations and revenue a bit below consensus, but also agreed to a long-term partnership with AmerisourceBergen (ABC). Walgreen, which is granted the right to buy a stake in AmerisourceBergen as part of the deal, rose nearly 5%, while AmerisourceBergen advanced over 5%. 

However, Cardinal Health (CAH), which was the incumbent at Walgreen and will be losing the business when its contract expires, declined 7%. 

Among the notable gainers were NPS Pharmaceuticals (NPSP), up 8% after revising its agreements regarding a drug with partner Takeda, and Lattice Semiconductor (LSCC), which rose 6% after increasing its guidance for quarterly revenue growth. 

Among the noteworthy losers was Electronic Arts (EA), which fell 8% after its CEO resigned and the company warned it will likely come in below or near the bottom of its prior guidance. Also lower after a revenue warning were shares of Lululemon (LULU), which slid over 5% after the company said a shortage of certain yoga pants will stop it from hitting its previous quarterly goals.
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