Midday movers: News Corp, E-Trade, Sagent
Stocks are lower despite jobless claims, which came in below expectations for a second straight week.
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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All hail the bull market, which ended the week with a big rally. But it also is starting to look a little like 1987, which suffered an epic blow-out.
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