Midday movers: B of A, JP Morgan, Tempur-Pedic
The market bounces back, boosted by speculation about new easing plans and steps to help with the European debt crisis.
Bank of America (BAC), up 7%, and JP Morgan (JPM), up 3.5%, led all gainers on the Dow, joining in a broad-based rally among financial names.
Shares of UnitedHealth (UNH) rose 1.5% after the company increased its dividend and approved a 110 million share buyback program. MasterCard (MA) also announced a new $1.5 billion share repurchase program after the bell Tuesday.
Among companies reporting earnings Tuesday night and Wednesday morning, Ulta Salons (ULTA) and Hovnanian (HOV) advanced, while Bob Evans (BOBE) declined.
Among the notable market gainers Wednesday are Ancestry.com (ACOM), up over 10%, after Bloomberg reported the company is considering putting itself up for sale, and Iron Mountain (IRM), up more than 9%, following its Board of Directors' approval of a plan to convert to a Real Estate Investment Trust and its announcement of an increased dividend.
Noteworthy losers include Tempur-Pedic (TPX), down 47%, after the company sharply reduced its full-year earnings guidance and said it now expects its North American sales to drop about 8%, and Mattress Firm (MFRM), down about 17%, as it reported higher-than-expected first-quarter earnings but lower-than-expected revenue and was weighed on by Tempur-Pedic's warning, as were other mattress retailers like Select Comfort (SCSS) and Sealy (ZZ).
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.
The solid report comes a month after the retailer closed all of its Canadian operations.
VIDEO ON MSN MONEY
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.