Midday movers: Ford, Hess, VMware

Stocks are mixed despite a consumer confidence reading that plunged to its lowest level in more than a year.

By MSN Money Partner Jan 29, 2013 2:16PM
 Wall Street sign copyright Corbis, SuperStockIlogonformation provided by Theflyonthewall.com

Ford (F) reported quarterly results that widely beat expectations on both the top and bottom lines, but shares fell nearly 6% after the company also said it now expects to lose about $2 billion in Europe this year.

Among others reporting earnings last night and this morning, advancers included DR Horton (DHI), Valero (VLO), Peabody Energy (BTU), Boston Scientific (BSX), Pfizer (PFE) and Eli Lilly (LLY). 

Decliners included Lexmark (LXK), Seagate (STX), BMC Software (BMC), Yahoo! (YHOO) and Sanmina (SANM).

Among the notable gainers was Hess (HES), which added almost another 10% after being up more than 6% yesterday. Shareholder Elliott Management, which is seeking to elect five directors to Hess' board, said that if managed appropriately, the equity value of Hess could be up to $126 per share. 

Also higher for a second straight session were shares of Keryx Biopharmaceuticals (KERX), up over 33% today after the price target on its shares was raised by at least three more firms. 

Among the noteworthy losers was VMware (VMW), which fell 20% and was downgraded by at least six firms following its Q4 results and FY13 guidance. 

Also lower by more than 4% were shares of EMC (EMC), which holds a majority ownership stake in VMware. Like VMware, EMC reported stronger than expected quarterly results but issued a cautious outlook for the year ahead. 
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