Midday movers: Apple, Gap, Groupon
Stocks get a modest boost from better-than-expected consumer confidence reading and leading economic indicators reports.
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The Department of Justice has allowed the pending spectrum and marketing deals between Verizon Wireless (VZ, VOD) and several cable companies, including Comcast (CMCSA) and Time Warner (TWC) to move forward.
Stanford University reiterated its "long-standing research-based relationship" with Nu Skin (NUS). Hon Hai may look to raise its stake in Sharp (SHCAY) to 20%, according to a report from Nikkei.
Among the notable gainers Friday were Apple (AAPL), after its price target was raised to $900 at Jeffries following indications that the iPad Mini is in production and the iPhone 5 is expected to be the biggest handset launch in history; and Gap (GPS), after it reported better-than-expected second-quarter earnings.
Noteworthy losers included Groupon (GRPN), after it was downgraded to "underweight" at Evercore; and Marvel (MRVL), after it reported disappointing Q2 results and guidance.
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Serious issues like drought and the deterioration of the developed world spell opportunity for this industry leader.
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