Midday movers: Wells Fargo, Advanced Micro Devices

Stocks slip as two big banks report a rise in earnings but fail to extend the recent rally in the financial sector.

By MSN Money Partner Oct 12, 2012 1:13PM
logoWall Street sign copyright Corbis, SuperStockInformation provided by Theflyonthewall.com

JPMorgan (JPM) and Wells Fargo (WFC) began the procession of banks reporting quarterly results and both came out with headline earnings that beat consensus. JPMorgan also beat on the revenue line, but saw its shares trade down nearly 1%. Wells, however, missed revenue expectations and its shares slid over 3%. 

Workday's (WDAY) initial public offering opened for trading at $48.05 after pricing 22.75 million shares at $28. Shares pulled back a bit to stand around $46 near noon.

Among the notable market gainers Friday was NPS Pharmaceuticals (NPSP), up 15% after the FDA posted briefing materials for an advisory committee meeting to review the company's drug being developed to treat short bowel syndrome. 

Also higher were shares of JB Hunt (JBHT), which advanced over 7% following its report of revenues that beat consensus and earnings that were a bit below expectations. 

Among the noteworthy losers were Liquidity Services (LQDT), down almost 11% following a downgrade to a Neutral rating at Bank of America Merrill Lynch and Advanced Micro Devices (AMD), down 10% after the company lowered its Q3 revenue forecast due to "weaker-than-expected demand across all product lines caused by the challenging macroeconomic environment." 
0Comments

DATA PROVIDERS

Copyright © 2014 Microsoft. All rights reserved.

Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.

STOCK SCOUTER

StockScouter rates stocks from 1 to 10, with 10 being the best, using a system of advanced mathematics to determine a stock's expected risk and return. Ratings are displayed on a bell curve, meaning there will be fewer ratings of 1 and 10 and far more of 4 through 7.

122
122 rated 1
288
288 rated 2
472
472 rated 3
638
638 rated 4
628
628 rated 5
704
704 rated 6
609
609 rated 7
489
489 rated 8
275
275 rated 9
129
129 rated 10
12345678910

Top Picks

SYMBOLNAMERATING
AAPLAPPLE Inc10
ATVIACTIVISION BLIZZARD Inc10
CTSHCOGNIZANT TECHNOLOGY SOLUTIONS10
FOXATWENTY-FIRST CENTURY FOX Inc CLASS A10
ITUBITAU UNIBANCO BANCO MULTIPLO S.A.10
More

VIDEO ON MSN MONEY

ABOUT

Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.

Contributors include professional investors and journalists affiliated with MSN Money.

Follow us on Twitter @topstocksmsn.