Midday movers: McDonald's, Wendy's, Arena Pharma

Stocks falter amid renewed worries about Greece and its potential exit from the eurozone.

By MSN Money Partner May 8, 2012 12:50PM
Information provided by Theflyonthewall.com

McDonald's (MCD) reported weaker than expected same-store sales growth, saying its global 3.3% increase was comprised of U.S. sales up 3.3%, European sale up 3.5%, and Asia/Pacific, Middle East, and Africa sales up 1.1%. Rival Wendy's (WEN) reported earnings that missed expectations, saying its profit margin was hurt by higher commodity costs, especially fresh beef.

 Both fast food companies traded lower on their news, with McDonald's shares sliding almost 2% and Wendy's falling over 5%.

Among other companies reporting earnings, advancers included Generac (GNRC), Vitamin Shoppe (VSI) and OfficeMax (OMX); decliners included Dendreon (DNDN), Scotts Miracle-Gro (SMG) and Rackspace (RAX).

Among the notable market gainers were GTx (GTXI), up 16%, after reporting that the FDA removed its clinical hold on the company's investigational new drug application for Capesaris, and Arena Pharmaceuticals (ARNA), up nearly 16% as well, two days ahead of an FDA Advisory Committee meeting to discuss its weight-loss drug, locaserin.

Noteworthy losers included Mako Surgical (MAKO), down 35%, following its weaker than expected Q1 results and lowered full-year RIO system sales guidance, and Fossil's (FOSL), down over 37%, after the company expressed caution about the European economy and reduced its 2012 earnings guidance following Q1 results that disappointed.
0Comments

DATA PROVIDERS

Copyright © 2014 Microsoft. All rights reserved.

Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.

STOCK SCOUTER

StockScouter rates stocks from 1 to 10, with 10 being the best, using a system of advanced mathematics to determine a stock's expected risk and return. Ratings are displayed on a bell curve, meaning there will be fewer ratings of 1 and 10 and far more of 4 through 7.

108
108 rated 1
257
257 rated 2
439
439 rated 3
626
626 rated 4
499
499 rated 5
530
530 rated 6
713
713 rated 7
522
522 rated 8
339
339 rated 9
136
136 rated 10
12345678910

Top Picks

SYMBOLNAMERATING
UPLULTRA PETROLEUM Corp10
EOGEOG RESOURCES Inc10
SWNSOUTHWESTERN ENERGY COMPANY10
TAT&T Inc9
COPCONOCOPHILLIPS9
More

VIDEO ON MSN MONEY

ABOUT

Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.

Contributors include professional investors and journalists affiliated with MSN Money.

Follow us on Twitter @topstocksmsn.