Midday movers: Microsoft, GE, Tempur-Pedic

Another round of better-than-expected earnings from blue chips encourages investors.

By MSN Money Partner Apr 20, 2012 1:20PM

Information provided by Theflyonthewall.com

Earnings reports from a trio of Dow components helped power that average higher, as Microsoft (MSFT) led the blue-chip companies with a 5.4% gain after its earnings and revenue beat consensus.

General Electric (GE) also beat on both the top and bottom line and shares moved higher by 1.9%.

Results from McDonald's (MCD) were generally in line with expectations. The company said global comparable sales increased 7.3%, driven by an 8.9% increase in the U.S. and its stock rose 2% near noon.

Among other companies reporting earnings, advancers included Hanesbrands (HBI), Schlumberger (SLB) and Honeywell (HON); decliners included SanDisk (SNDK) and Altera (ALTR).

Among the notable market gainers Friday were Ixia (XXIA), up over 13%, following an upgrade at Wunderlich, which cited the company's first-quarter results, and Great Wolf (WOLF), up 8%, after an affiliate of Apollo Global Management (APO) increased its offer to acquire the company to $7.85 per share from $7.00.

Noteworthy losers included Riverbed (RVBD), down more than 26%, following downgrades by at least seven firms after the company's first-quarter revenue missed consensus and it said it sees 15% revenue growth for FY12, and Tempur-Pedic (TPX), down over 21%, after its guidance fell short of expectations.

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