Information provided by Theflyonthewall.com Bank of America
) reported headline earnings that missed the consensus estimate by 2 cents, though its revenue topped analyst expectations. The bank also announced it has agreed to a settlement in principle that would dismiss more suits brought against its Countrywide unit related to residential mortgage-backed securities in exchange for a payment of $500 million. BofA shares were the Dow's worst performer, sliding over 6% near noon.
) shares fell almost 6% to hit 52-week lows after one of the company's suppliers, Cirrus Logic
), estimated that revenue for its current quarter would be significantly below expectations. Cirrus plunged 15% following its warning.
Among the notable gainers were Alkermes
), which rose about 15% after reporting preliminary results from a study of a drug candidate for major depressive disorder.
Also higher were shares of Mattel
), which gained 3% following the company's quarterly report.
Among the noteworthy losers was E2open
), which fell 26% after its earnings and guidance fell well short of expectations.
Also lower were shares of Magnum Hunter Resources
), which declined 20% after the company dismissed PricewaterhouseCoopers
as its accountant.