Midday movers: FedEx, AMD, Energizer
Stocks near flat as investors seek direction in a lackluster session.
Shares of FedEx (FDX) slumped 2% after the company beat earnings expectations for the quarter that just closed but sharply lowered its view for its current fiscal year. FedEx guided second quarter earnings per share at $1.30-$1.45, well below the $1.67 consensus, and lowered its fiscal year 2013 earnings per share outlook to $6.20-$6.60 from $6.90-$7.40.
Among the notable gainers Tuesday, Velti (VELT) was up 12% after signing a $27 million mobile marketing deal, and Energizer (ENR) was up over 9% after the company said it expects to achieve yearly pre-tax savings of $175 million-$200 million from its restructuring plans.
Among the noteworthy losers was Advanced Micro Devices (AMD), down nearly 8% after the company's CFO resigned to pursue other opportunities.
Also lower were MCG Capital (MCGC), down 11% after being downgraded to "sell" at Stifel Nicolaus, and Optimer (OPTR), down more than 8% following a downgrade to an "underperform" rating at Bank of America Merrill Lynch.
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
The stock rises 9% after the company reveals strong second-quarter results.
VIDEO ON MSN MONEY
Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.
Contributors include professional investors and journalists affiliated with MSN Money.
Follow us on Twitter @topstocksmsn.