Midday movers: Sears, A&F, Valeant

Stocks are lower in light volume trading ahead of the upcoming holiday weekend.

By MSN Money Partner May 24, 2013 2:11PM
Image, Wall Street sign copyright Corbis, SuperStocklogo Theflyonthewall.com

Procter & Gamble (PG) announced last night that CEO Robert McDonald had resigned. P&G brought back its former CEO A.G. Lafley as McDonald's replacement and investors cheered the appointment by sending the Dow component's shares up over 4%.

A number of retailers were sharply lower following their quarterly reports. Sears (SHLD) fell 13%, Abercrombie & Fitch (ANF) declined nearly 10%, Aeropostale (ARO) slid 9% and Foot Locker (FL) dropped 5%. 

Among some notable gainers following their earnings reports were Infoblox (BLOX), up 13%, and Mentor Graphics (MENT), up about 2%. Also higher were shares of Valeant (VRX), which rose 11% after The Wall Street Journal said it is nearing a deal to acquire Bausch & Lomb for $9B. 

Among the noteworthy losers was Titan Machinery (TITN), which fell almost 10% after the company lowered its earnings guidance and shares were downgraded at RW Baird.  
1Comment
May 24, 2013 2:25PM
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In this manipulated market even if the economic data is negative the market will go up thanks to those in control.
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