Midday movers: P&G, Burger King, Tesla

Stocks head lower after Federal Reserve announces it will expand Operation Twist.

By MSN Money Partner Jun 20, 2012 12:40PM
Information provided by Theflyonthewall.com 

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.
Tags: BKPGTSLA
1Comment
Jun 20, 2012 1:16PM
avatar
More B.S  Smoke and Mirrors from FRAUD STREET and the FEDERAL RESERVE ! TAKE YOUR MONEY AND RUN IT IS SAFER UNDER YOUR BED !
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