Midday movers: Boeing, RIM, Chesapeake

Stocks are lower after a surprising report shows US GDP contracting in Q4 2012.

By MSN Money Partner Jan 30, 2013 2:52PM
 Wall Street sign copyright Corbis, SuperStocklogoInformation provided by Theflyonthewall.com

Boeing (BA) led the Dow with a gain of over 1% after its better-than-expected earnings and forecast for the upcoming year reassured investors. 

The company also said 787 production continues, though 787 deliveries are suspended until the FAA gives clearance. 

Among other companies in the aerospace and defense industry also reporting this morning, L-3 Communications (LLL) and Northrop Grumman (NOC) advanced as well.

Research In Motion (RIMM), in addition to unveiling two new smartphones and its new BlackBerry 10 operating system, announced it will change its corporate name to "BlackBerry" and Nasdaq ticker to "BBRY." Investors certainly appeared to "sell the news" as shares, which had been up early in the session, slid during the launch event and were down nearly 8% near noon.

Among the notable gainers was Chesapeake Energy (CHK), which rose 6% after the company announced last night that its controversial CEO, Aubrey McClendon, would retire on April 1.

Other gainers included two companies being acquired: BioClinica (BIOC), advanced 19% after agreeing to be acquired by JLL Partners for $7.25 a share, while Copano Energy (CPNO) gained 14% after being acquired by Kinder Morgan Energy (KMP) in a unit for unit transaction. Kinder Morgan shares slid over 2% after the deal announcement. 

Among the other noteworthy losers were Meritor (MTOR), down nearly 16%, and Spansion (CODE), which fell 12% after their earnings reports.
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.

112
112 rated 1
270
270 rated 2
444
444 rated 3
693
693 rated 4
637
637 rated 5
692
692 rated 6
615
615 rated 7
498
498 rated 8
265
265 rated 9
126
126 rated 10
12345678910

Top Picks

SYMBOLNAMERATING
TAT&T Inc9
VZVERIZON COMMUNICATIONS9
EXCEXELON CORPORATION8
AAPLAPPLE Inc10
ATVIACTIVISION BLIZZARD 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.