Midday movers: Target, J.C. Penney, GM

Stocks pare earlier gains as investors await FOMC minutes.

By MSN Money Partner May 16, 2012 12:43PM
Information provided by Theflyonthewall.com

Target (TGT) shares rose after its "beat and raise" earnings report, but two other prominent retailers plunged following their reports.

J.C. Penney (JCP) slid 16% after suspending its dividend and reporting its same store sales fell 18.9% during the first quarter, while shares of Abercrombie & Fitch (ANF) dropped over 13% after the company's same-store sales declined 5% and its revenues missed expectations.

General Motors (GM) jumped more than 3% after Berkshire Hathaway (BRK.A) disclosed a new position in the automaker. Facebook boosted the size of its initial public offering by 25% to 421 million shares, not including the more than 60 million additional shares that could be sold to cover excess demand.

Among the notable gainers Wednesday were OraSure (OSUR), up nearly 19%, after an FDA panel recommended that it in-home HIV test should be approved, and Sina (SINA), up almost 14%, after its revenue beat consensus and its losses were not as steep as expected.

Noteworthy losers included Staples (SPLS), down about 6%, after its earnings missed estimates and the company said it expects no net store growth in North America this year, and Arena Pharmaceuticals (ARNA), down 6%, following its secondary offering of 11 million shares.
0Comments

DATA PROVIDERS

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.

STOCK SCOUTER

StockScouter rates stocks from 1 to 10, with 10 being the best, using a system of advanced mathematics to determine a stock's expected risk and return. Ratings are displayed on a bell curve, meaning there will be fewer ratings of 1 and 10 and far more of 4 through 7.

116
116 rated 1
284
284 rated 2
461
461 rated 3
671
671 rated 4
628
628 rated 5
618
618 rated 6
615
615 rated 7
495
495 rated 8
347
347 rated 9
115
115 rated 10
12345678910

Top Picks

SYMBOLNAMERATING
DYNDYNEGY Inc10
TAT&T Inc9
VZVERIZON COMMUNICATIONS9
EXCEXELON CORPORATION8
AAPLAPPLE Inc10
More

VIDEO ON MSN MONEY

ABOUT

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.