Midday movers: Caterpillar, Tesla, KB Home

Stocks move lower despite strong U.S. housing data and consumer confidence reading.

By MSN Money Partner Sep 25, 2012 1:01PM
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Caterpillar (CAT) warned late Monday that falling commodity prices could translate into falling demand for its products and lowered its 2015 earnings guidance to $12 to $18 from a prior view of $15 to $20. 

Tesla Motors (TSLA) shares fell nearly 9% after the company reduced its second half of 2012 Model S delivery guidance and cut its revenue outlook for the year.

Among the notable gainers Tuesday were Genetic Technologies (GENE), up 18% after announcing that its breast cancer risk test has been cleared for sale into Florida, and KB Home (KBH), up over 3% amid the positive housing data and as the price target on its shares was raised to $19 from $14 at RBC Capital. 

Among the noteworthy losers was Gevo (GEVO), down nearly 30% as it was downgraded at Cowen and ThinkEquity after the company said it would halt production of isobutanol at its first commercial scale facility. 

Also lower were shares of Key Energy (KEG), down about 12% after saying it now expects its Q3 results from continuing operations to come in below its prior expectations. 

Tags: CATKBHTSLA
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