Midday movers: Research In Motion, Nike

Stocks slide amid lingering talk that Moody's could downgrade Spain.

By MSN Money Partner Sep 28, 2012 1:13PM
 Wall Street sign copyright Corbis, SuperStocklogoInformation provided by Theflyonthewall.com

Medtronic (MDT) and China Kanghui Holdings (KH) announced a merger agreement whereby Medtronic will acquire Kanghui for approximately $816 million in cash, or $30.75 per ADS. Kanghui rallied over 20% on the news. 

Research In Motion (RIMM) beat Q2 expectations, sending its shares higher by 9%. 

Shares of Nike (NKE) slumped after the sports apparel maker reported Q1 net income dropped 12% as growth in China slowed. 

Among the notable gainers in the market Friday were AZZ Inc. (AZZ), up 14% after beating Q2 estimates and raising guidance for FY13, and Cytori Therapeutics (CYTX), up 17% after winning a $106 million BARDA contract. 

Among the noteworthy losers were Adtran (ADTN), down 8% after lowering Q3 guidance, and Wesco Aircraft (WAIR), down 4% after announcing a 1.8 million secondary offering. 
Tags: MDTRIMM
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