Midday movers: Caterpillar, Hess, Jos A Bank

Stocks are mixed as positive durable goods data offsets disappointing pending home sales news.

By MSN Money Partner Jan 28, 2013 2:36PM

Information provided by Theflyonthewall.com

Caterpillar (CAT) shares were up about 2% near noon despite reporting headline sales and profit figures that missed consensus and providing guidance for the upcoming year that spans a wide range of possible outcomes.

The company's Q4 reported earnings per share of $1.04 missed the consensus forecast of $1.70, but included a previously disclosed charge of $580 million, or 87 cents per share, for a writedown of a subsidiary. The company said it expects FY13 EPS anywhere between $7 to $9 and gave a similarly wide range of projected sales for the upcoming year, citing uncertainty in the global economy.

Among the notable gainers was Hess (HES), which rose 5% after the company said it has hired Goldman Sachs to pursue a sale of its terminal network.

Hess also announced it has completed its exit of the refinery business and that shareholder Elliott Associates may seek to acquire additional Hess shares valued at more than $800 million.

Also higher was Keryx Biopharmaceuticals (KERX), which jumped over 73% after the company's successful top-line results from a long-term study of one of its drugs prompted research firms Brean Capital, Roth Capital and Maxim to raise their price targets on Keryx shares.

Among the noteworthy losers was Jos. A. Bank (JOSB), which tumbled nearly 18% after warning that its FY12 net income would likely drop about 20% compared with the previous year. Also lower after its announcement were shares of fellow suit retailer The Men's Wearhouse (MW), which fell more than 6%.

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