Midday movers: Target, Saks, Trina Solar

Stocks are higher after Fed Chairman Ben Bernanke told Congress that prematurely ending the central bank's stimulus program could endanger the still fragile economic recovery.

By MSN Money Partner May 22, 2013 3:01PM
Wall Street sign copyright Corbis, SuperStocklogoInformation provided by Theflyonthewall.com


Target (TGT) slid over 3% after calling its first-quarter performance "disappointing" and lowering its full-year adjusted earnings outlook. 

In contrast, another major retailer, Lowe's (LOW), missed expectations on the top and bottom line and issued a yearly forecast that fell short of the Street's view, but its shares rose over 1% following the report. 

Among the notable gainers were two other retailers: Zale (ZLC) rose 25% following its quarterly report, while Saks (SKS) gained nearly 14% after the New York Post said last night that the company has hired Goldman Sachs to explore strategic alternatives. 

Among the noteworthy losers was SolarWinds (SWI), which fell 11% after the company said it will acquire N-able for $120M and its shares were downgraded at research firm Pacific Crest. 

Also lower were a number of Solar stocks, including Trina Solar (TSL), which fell 7% after China's Xinhua news agency said early talks between Europe and China to resolve their fight over solar panel trade rules had failed.  
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