Midday movers: Intel, Mako Surgical
Stocks are mixed as optimism about a plan to help Spain's banks is tempered by profit warnings from tech companies.
Alcoa (AA) kicked off earnings season with a report of better-than-expected revenues and predicted a global aluminum supply deficit this year. However, on a down note, AMD (AMD) and Applied Materials (AMAT) both lowered their outlooks.
Intel (INTC) made a $4.1 billion investment in chip maker ASML Holding (ASML) and will take up to a 15% stake in the company. Shares of ASML rose 9% on the heels of the announcement, though Intel shares slumped about 1.75% as it was weighed on by AMD's warning.
Among the notable gainers Tuesday are magicJack (CALL), up over 14% after raising its quarterly and full-year guidance, and Cymer (CYMI), up 9% on follow through from Intel's purchase of a stake in ASML.
Among the noteworthy losers are Mako Surgical (MAKO), down almost 40% following downgrades by at least two firms and price target cuts at others after the company lowered its robot guidance for 2012, and MBIA (MBI), down over 6%, after disclosing that New York State has not determined yet whether to allow the company to make an interest payment on certain notes that it issued.
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A light news day combined with heavy technicals weighed on the market.
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