Midday movers: InBev, Facebook, Qualcomm

Stocks are mixed as a regional purchasing managers' index is better than expected, but jobless claims climb.

By MSN Money Partner Jan 31, 2013 2:31PM
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U.S. listed shares of Anheuser-Busch InBev (BUD) fell over 7% after the Justice Department sued to block the company's proposed $20.1 billion deal to buy control of Mexico's Grupo Modelo. 

Falling even further on the news were shares of Constellation Brands (STZ), which had agreed to purchase the remaining 50% interest in the Crown Imports joint venture that it runs with Grupo Modelo in conjunction with AB InBev completing its own acquisition of Modelo. 

Both AB InBev and Constellation said they were disappointed by and opposed the DOJ's action, but added that given the move they no longer see their transactions closing in Q1. Near noon, Constellation shares were down over 20%.

Facebook (FB) was downgraded by at least five firms after its earnings and revenue beat expectations but the company also said it plans to invest heavily in its business in 2013. Shares, which were down sharply at the open, recovered throughout the morning to be down about 1% near noon.

Qualcomm (QCOM) surged almost 5% and price targets on shares were raised around Wall Street following its Q1 results and increased guidance. 

Among other tech component makers that reported, Skyworks Solutions (SWKS) advanced over 13%, while Fusion-io (FIO) slid nearly 16%.

Among the notable gainers was WMS Industries (WMS), which rose 52% after agreeing to be acquired by Scientific Games (SGMS) for $26 per share in cash. Shares of Scientific Games also advanced over 11%. Other casino and gaming suppliers moved higher following the news, as Bally Technologies (BYI) rose nearly 5% and International Games (IGT) gained about 1.5%.

Among the noteworthy losers was Celsion (CLSN), which plunged 81% after its Phase III HEAT study of ThermoDox did not meet its primary endpoint. 

Also lower were shares of Liquidity Services (LQDT), down 24%, and Elizabeth Arden (RDEN), which fell 14% after their earnings reports. 
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