Midday movers: Cabela's, iRobot

Stocks on Wall Street are lower as the market shows a bit of exhaustion following its recent rally.

By MSN Money Partner Mar 12, 2013 1:39PM
Wall Street sign copyright Corbis, SuperStocklogoInformation provided by Theflyonthewall.com

The Dow has set fresh record closes in each of the last five sessions, while the S&P 500 has risen seven trading days in a row, though both streaks are in jeopardy if the current levels hold into the close.

Cabela's (CAB) bounced back from being down about 2% yesterday, which was attributed to read-through from the worse-than-expected report of its peer Dick's Sporting Goods (DKS). Cabela's announced the acceleration in its business that it had previously disclosed was continuing and that it expects earnings to beat the current consensus estimates, sending its stock up over 11% near midday.

Shares of iRobot (IRBT) and VeriFone (PAY) both advanced after the companies announced executive departures. iRobot, in addition to saying its CFO is stepping down, raised its guidance for the current quarter and shares gained about 5%. VeriFone, which announced that its CEO is leaving and affirmed its prior view for the year, rose over 5%.

Among the notable gainers were Glu Mobile (GLUU), which rose more than 14% after the company launched a real-money gambling game in Britain, and Heckmann (HEK), which gained 10% after reporting a profit in the just completed quarter when a loss was expected by analysts. 

Among the noteworthy losers were AVG Technologies (AVG), which fell 9% after the stock was downgraded at Morgan Stanley, and Yandex (YNDX), which dropped over 7% after announcing a group of existing shareholders would make a public offering of 24.25 million Class A shares of its stock. 
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