Midday movers: Herbalife, Amicus Theraputics

Stocks are lower a despite a better-than-expected University of Michigan Consumer Confidence reading.

By MSN Money Partner Feb 15, 2013 2:17PM
Wall Street sign copyright Corbis, SuperStockInformation provided by Theflyonthewall.com

Share of Herbalife (HLF) jumped over 11% after Carl Icahn disclosed he has taken a stake of about 13% in the company, which has been a short target of Pershing Square's Bill Ackman. 

Icahn's disclosure, in which he said that he will talk with Herbalife management about business and strategic alternatives to enhance shareholder value, comes three weeks after the public feud between himself and Ackman on CNBC.

A number of companies in the Food Processing industry reported earnings or issued guidance this morning after many stocks in the sector were higher Thursday following Berkshire's (BRK.A) acquisition of Heinz (HNZ). 

Campbell Soup (CPB) and JM Smucker (SJM) advanced modestly following their quarterly reports, while Kraft Foods (KRFT) shares were nearly unchanged after it issued guidance.

Among the notable gainers following their earnings reports were Qlik Technologies (QLIK) and InContact (SAAS), which both rose about 17%. Among the noteworthy losers was LogMeIn (LOGM), which fell nearly 29% after its disappointing results and guidance prompted multiple analyst downgrades. 

Also lower were shares of Amicus Theraputics (FOLD), down 23% after it presented additional data from a study of one of its drugs.
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