Midday movers: P&G, Burger King, Tesla
Stocks head lower after Federal Reserve announces it will expand Operation Twist.
Procter & Gamble (PG) shares weighed on the Dow, falling over 3%, after the company lowered its earnings view again after cutting it in April. The company cited unfavorable foreign exchange rates and continued economic headwinds in the U.S. and Europe.
Burger King (BKW) shares moved higher on the company's first day of trading after it returned to being publicly listed.
Among companies reporting earnings, Jabil Circuit (JBL) advanced, while FSI International (FSII), La-Z-Boy (LZB), Adobe (ADBE) and Actuant (ATU) all declined.
Among the notable gainers were Gevo (GEVO), up 30%, following an upgrade at Cowen after a court denied Butamax's request for a preliminary injunction against the company, and Tesla Motors (TSLA), up 6%, after Goldman Sachs raised its price target on shares to $50 from $36.
Among the noteworthy losers was Liquidity Services (LQDT), down 8%, following comments made by its CEO regarding margins, though Stifel Nicolaus said investors may be misinterpreting the comments, resulting in a buying opportunity. Also lower were shares of Acme Packet (APKT), down almost 7%, after being downgraded to "hold" at Jefferies, which lowered its price target for shares to $21 from $40.
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
The solid report comes a month after the retailer closed all of its Canadian operations.
VIDEO ON MSN MONEY
Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.
Contributors include professional investors and journalists affiliated with MSN Money.
Follow us on Twitter @topstocksmsn.