Midday movers: Family Dollar, Ford

Stocks are higher with the Dow narrowly underperforming the Nasdaq and S&P after Wednesday's big run-up.

By MSN Money Partner Jan 3, 2013 2:40PM
Wall Street sign copyright Corbis, SuperStocklogoInformation provided by Theflyonthewall.com

Results were mixed among retailers reporting December same-store sales, with Ross Stores (ROST) and TJX (TJX) among those beating consensus and Limited (LTD) one notable name that disappointed. 

Family Dollar (FDO), in addition to having December same-store sales growth miss expectations, reported quarterly earnings and revenues below consensus and gave guidance below Wall Street's view, sending its shares down over 11%.

In addition to reporting December same-store sales up 5%, Gap (GPS) made additional news with the approval of a $1 billion share buyback and the purchase of multi-brand specialty retailer Intermix for $130 million. 

Increased December vehicle sales were also reported though out the morning, leading shares of both General Motors (GM) and Ford (F) up about 3%.

Among the notable gainers were SunPower (SPWR), up 35% following an upgrade to "buy" at Lazard Capital, and Sonus Networks (SONS), up 10% after Northland Securities said Verizon (VZ) is adding more of Sonus' products on its wire-line side of its business. 

Among the noteworthy losers were Allot Communications (ALLT), down 23% following a downgrade to "perform" at Oppenheimer, and Melanox (MLNX), down 13% after its Q4 revenue warning prompted at least three firms to cut their price targets on its stock. 
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