Midday movers: Facebook, Office Depot, Nokia
Stocks are higher as investors anxiously await the European Central Bank meeting Thursday and the Fed's meeting next week.
FedEx (FDX) shares slid a bit over 1% after the company lowered its Q1 EPS view to $1.37 to $1.43 from its initial forecast of $1.45 to $1.60. The company attributed its shortfall to weakness in the global economy, which "constrained revenue growth at FedEx Express more than expected."
Shares of United Parcel Service (UPS) declined nearly 2% in sympathy.
Facebook (FB) gained over 4% after its CEO Mark Zuckerberg pledged not to sell any of his shares for at least 12 months.
Among the notable gainers Wednesday were Office Depot (ODP), up 12% after the company affirmed its FY12 outlook while presenting at an investor conference, and Guidewire Software (GWRE), up nearly 10% after its Q4 results beat consensus on the top and bottom line.
Among the noteworthy losers was Francesca's (FRAN), down 15% following the resignation of the company's CEO, and Nokia (NOK), down about 10% as investors sold-off shares following the unveiling of its latest Lumia smartphones, to be powered by Microsoft's (MSFT) Windows Phone 8. (Microsoft owns and publishes Top Stocks, an MSN Money site.)
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As geopolitical tensions threaten to spin out of control, investors are wondering how best to position their portfolios for the global turmoil.
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