Midday movers: Ford, GM, Delta

Stocks move higher, setting up the Dow and S&P to recover Monday's losses.

By MSN Money Partner Apr 2, 2013 1:40PM
Wall Street sign copyright Corbis, SuperStockfly logoInformation provided by Theflyonthewall.com

Shares of BGC Partners (BGCP) surged over 41% after the company agreed to sell its eSpeed treasury trading platform to Nasdaq OMX Group (NDAQ) in a cash-and-stock deal valued at as much as $1.23B. Nasdaq shares fell more than 10% after the deal was announced after the market closed last night.

General Motors (GM) and Ford (F) both posted U.S. sales gains of nearly 6% for March, though those gains were better than expected for Ford and worse than expected for GM. Ford shares rose a bit over 1% after the report, while GM shares gained 0.5%.

Among the notable gainers was Optimer Pharmaceuticals (OPTR), which rose 19% after Bloomberg said the company's previously announced exploration of alternatives has generated interest from bigger pharma companies including GlaxoSmithKline (GSK), Cubist (CBST) and AstraZeneca (AZN).

Also higher were shares of Hertz Global (HTZ), which advanced more than 7% after affirming its fiscal year 2013 earnings and revenue view and providing guidance for fiscal year 2015. 

Among the noteworthy losers was Delta (DAL), which fell 7% after the company forecast its revenue for the March quarter will be up 4% to 4.5% from the prior year. Also lower were shares of Groupon (GRPN), which slid nearly 6% after UBS initiated coverage of the stock with a "sell" rating and $4.40 price target.  

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