Midday movers: Zipcar, LinkedIn, Caterpillar

Stocks rise significantly after US lawmakers agree on a deal to avoid some of the tax hikes associated with the fiscal cliff.

By MSN Money Partner Jan 2, 2013 2:24PM
Wall Street sign copyright Corbis, SuperStocklogoInformation provided by Theflyonthewall.com

Every member of the Dow Jones Industrial Average was higher at midday, with only Merck (MRK), Johnson & Johnson (JNJ) and UnitedHealth (UNH) logging gains of less than 1%. 

Shares of Hewlett-Packard (HPQ) and Caterpillar (CAT) paced the blue chip index, as each rose over 4%. 

Reflecting a trend similar to the one seen on the Dow, every S&P sector except for health care was significantly higher.


Among the notable gainers Wednesday was Zipcar (ZIP), which rose 48% following its agreement to be acquired for $12.25 per share in cash by Avis Budget (CAR), which also had its shares rise nearly 5%. 

Among the noteworthy losers were Skullcandy (SKUL), down 14% after Jefferies downgraded the stock to "underperform" from "buy," and LinkedIn (LNKD), which fell almost 4% after being downgraded to "equal weight" at Barclays. 

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