Midday movers: Smithfield Foods, Trina Solar

Stocks are lower Wednesday afternoon after beginning the day in negative territory and remaining there throughout the morning.

By MSN Money Partner May 29, 2013 2:28PM
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Smithfield Foods (SFD) rose 25% to trade around $32.50 near midday after the company agreed to be acquired by China's Shuanghui International for about $7.1B including debt, or $34 per share. 

Other meat producers were mixed after the deal was announced, as Tyson Foods (TSN) rose nearly 2% and Hormel (HRL) slid about 2%.

Two funeral services providers agreed to combine and shares of both advanced following the deal announcement, as Service Corporation (SCI) will buy smaller peer Stewart Enterprises (STEI) for $13.25 per share in cash. Stewart rose about 34%, while Service Corp. shares gained over 5%. 

Among the notable gainers following their earnings reports were Brown Shoe (BWS), up 13%, and The Fresh Market (TFM), which rose over 6%. 

Among the noteworthy losers was MRC Global (MRC), which dropped 13% after its sales outlook missed expectations. 

Also lower following their earnings reports were Trina Solar (TSL), down 11%, and Chico's FAS (CHS), which fell 8%. 
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