Midday movers: Bristol-Myers, Herbalife

Stocks rally ahead of President Obama's statement on the fiscal cliff negotiations.

By MSN Money Partner Dec 31, 2012 2:30PM
Stock market copyright Zurbar, age fotostockInformation provided by Theflyonthewall.com

After Friday's closing bell, the FDA announced it had approved the anti-clotting drug Eliquis, marketed by Bristol-Myers Squibb (BMY) and Pfizer (PFE). 

Atlantic Equities upgraded Bristol-Myers citing the approval and shares advanced about 1%. Pfizer shares, however, slid about 0.3%.

Among the notable gainers was Duff & Phelps (DUF), up 20% after agreeing to be acquired by a group led by The Carlyle Group (CG), with the provision that Duff & Phelps can continue to seek a better deal. 

Also higher were shares of Herbalife (HLF), which rose over 8% as the stock continues to bounce back from the sell-off begun with Bill Ackman's revelation of his short position. 

Among the noteworthy losers was Cal-Maine Foods (CALM), down 10% after reporting Q2 earnings that missed expectations. 
2Comments
Dec 31, 2012 11:59PM
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As I stated earlier today, a deal was reached.  There was never a doubt so I now predict the market will go up around 250 points when it reopens.  This was just another manipulation and there never was not going to be a deal made.  
Dec 31, 2012 5:50PM
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The whole fiscal cliff discussion is nothing more than a continuance of the "mouse and cat" game to drive the market down so those in control can than buy low before the announcement a resolution was obtained which of course will send the market "surging" or "soaring".  The fiscal cliff along with market are being controlled to benefit a few of the wealthy.  So today the market is up 166 points for supposedly a proposed deal but now breaking news says there will be no deal today and we will "fall off the cliff" so in theory the market should go down by at least 166 points or more tomorrow but of course those in control will not let that happen.  Wall St has become nothing more th****gal form of gambling and those in control are using the average investor's money but the only ones making money are those in control of the market.
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