Midday movers: News Corp, E-Trade, Sagent

Stocks are lower despite jobless claims, which came in below expectations for a second straight week.

By MSN Money Partner Aug 9, 2012 1:30PM
News Corp.'s (NWSA) stock declined fractionally after its quarterly profits matched expectations but its revenues fell short of consensus.

Among other companies reporting earnings Wednesday night and Thursday morning, Seattle Genetics (SGEN), Allscripts (MDRX) and Brinker (EAT) advanced, while Monster Beverage (MNST), Kohl's (KSS) and Advance Auto Parts (AAP) declined.

Among the notable gainers were E-Trade (ETFC), up 6%, after the firing of its CEO sparked speculation that the company may be readying itself to be purchased, and Robbins & Myers (RBN), up 27%, following its acquisition by National Oilwell Varco (NOV) for $60 per share in cash.

Among the noteworthy losers were Sagent Pharmaceuticals (SGNT), down over 22%, after the company cut its revenue view and raised its loss view for the year, and Select Medical (SEM), down about 22% as well, following downgrades at Bank of America Merrill Lynch, RBC Capital, RW Baird and UBS.

Information provided by Theflyonthewall.com

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