Midday movers: Trina Solar, Panasonic, Teva

Stocks add to earlier gains as Fed announces plans to continue stimulus measures.

By MSN Money Partner Dec 12, 2012 2:00PM
Image, Wall Street sign copyright Corbis, SuperStocklogoInformation provided by Theflyonthewall.com

At the end of a two-day meeting, the U.S. Federal Reserve announced plans to continue monetary stimulus for the economy. 

DuPont (DD) shares rose 2% after the company said it expects its adjusted EPS to come in at the high end of its previous forecast and also authorized a repurchase program of $1billion. 

A number of solar stocks moved up sharply amid numerous headlines from Chinese and Taiwanese media sources. Reports said China plans additional subsidies for solar companies there and also some China-based makers may sell solar cell equipment to Taiwan. A number of solar names moved higher, including Yingli Green Energy (YGE), up 20%, Trina Solar (TSL), also up 20%, and JA Solar (JASO), up 22%. Additionally, LDK Solar (LDK), which rose 27%, announced it has entered into discussions with certain creditors to obtain additional flexibility as it continues to work to address its previously disclosed liquidity and working capital concerns.

Among the notable gainers was Panasonic (PC), up almost 8% following an upgrade to "overweight" at Barclays. Also higher were shares of YM BioSciences (YMI), up 77% after agreeing to be acquired by Gilead Sciences (GILD) for $2.95 per share in cash. Gilead shares, meanwhile, moved up 10 cents, or 0.13%. 

Among the noteworthy losers was Charles River Labs (CRL) down 8% after reaffirming its 2012 guidance and giving guidance for 2013 below Street expectations. Also lower were shares of Teva Pharmaceutical (TEVA), down 4.7% after Leerink downgraded the stock to "market perform" and Wells Fargo removed it from the firm's Priority Stock List. 
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