Midday movers: Toyota, BCD Semi, JC Penney
Stocks are lower after consumer confidence falls and a leading Democrat warns that there may not be enough time left to avoid a trip over the fiscal cliff.
U.S. listed shares of Toyota Motor (TM) rose about 1.75% after the company agreed to a settlement valued over $1 billion related to previous recalls over claims of accelerator pedal problems
Among the notable gainers was BCD Semiconductor (BCDS), which rose 92% to $7.64 after agreeing to be acquired by Diodes (DIOD) for $8.00 per U.S. listed share. Diodes, meanwhile, rose over 3% following the deal.
Also higher were shares of Smith & Wesson (SWHC), which advanced more than 3% after the company expanded its share repurchase program.
Among the noteworthy losers were RadioShack (RSH), which fell over 6%, and J.C. Penney (JCP), which declined nearly 6% as well, after both were mentioned by The Wall Street Journal among four retailers that may face a particularly challenging and important year in 2013.
The other two, Best Buy (BBY) and Sears Holdings (SHLD), also saw their shares fall more than the broader market.
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Serious issues like drought and the deterioration of the developed world spell opportunity for this industry leader.
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