Midday movers: Cliffs, AOL, Mattress Firm

Stocks are lower though well off their worst levels, after dropping sharply at the open.

By MSN Money Partner Mar 27, 2013 1:12PM
Image, Wall Street sign copyright Corbis, SuperStocklogoInformation provided by Theflyonthewall.com

Cliffs Natural Resources (CLF) was in the sights of a number of Wall Street analysts, as Morgan Stanley cut its rating on the stock to "underweight" from "equal weight" and Credit Suisse lowered its price target on the stock to $10 from $30. Goldman Sachs upgraded Cliffs due to valuation, but that only brought the firm's rating up to a "neutral" from its prior "sell" recommendation. Shares of Cliffs sank 15% following the flurry of notes to investors.

Among the notable gainers were Mattress Firm (MFRM), up 10% following its earnings report, and AOL (AOL), up over 7% after being upgraded at Barclays. 

Among the noteworthy losers was LogMeln (LOGM), which slid 12% near noon to give back some of the 20% advance it garnered yesterday following a positive ruling in a patent lawsuit. 

Also lower were shares of Rackspace (RAX), which fell 4% after CLSA initiated coverage of the stock with an "underperform" rating and $52 price target.


Tags: AOLCLFRAX
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