Midday movers: Netflix, NetSpend

Stocks are lower as World Bank cuts growth forecasts for China and Asia's developing countries.

By MSN Money Partner Oct 8, 2012 1:17PM
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The Dow's newest member, UnitedHealth (UNH), announced it will buy a 90% stake in Amil Participacoes, Brazil's largest health care company, for about $4.9 billion. 

The company also pre-announced earnings above consensus for its upcoming quarter and shares advanced a bit less than 1%.

Navistar (NAV) prevented a proxy fight with activist investors Carl Icahn and Mark Rachesky by agreeing to appoint three new members to its board.

Among the notable stock market gainers Monday were Netflix (NFLX), up over 10% following an upgrade to "overweight" from "equal weight" at Morgan Stanley, and CarMax (KMX), up 9% after ITG Research made positive comments about its used car sales trends. 

Noteworthy losers included Green Dot (GDOT), down 20%, and NetSpend (NTSP), down almost 6% after Wal-Mart (WMT) and American Express (AXP) launched a new reloadable prepaid card offering called Bluebird. Also lower were shares of Affymetrix (AFFX), down 15% after warning it sees Q3 revenue coming in below consensus.


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