Midday movers: Facebook, Starbucks, Amazon

Stocks climb on encouraging headlines from Europe.

By MSN Money Partner Jul 27, 2012 1:19PM
Information provided by Theflyonthewall.com 

Facebook (FB) shares fell 9% and hit their worst level ever following the company's first quarterly report since going public. The social network's earnings matched consensus and its revenues were a bit better than expected and its stock moved higher briefly in after-market trading. However, it quickly reversed course and fell when the market opened.

Among other large caps reporting earnings, Starbucks (SBUX) fell nearly 11% after lowering its full-year view, while Amazon (AMZN) rose about 7%.

Among the notable gainers were AuthenTec (AUTH), up 67%, after entering a merger agreement with Apple (AAPL) for $8 per share, and OCZ Technology (OCZ), up 25%, after The Register said Seagate (STX) may look to buy the company. Among the noteworthy losers were Green Dot (GDOT), down 59%, as it was downgraded by at least ten firms after its quarterly report and guidance, and QLogic (QLGC), down 18%, as it was also downgraded by multiple analysts following its disappointing results. 
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