Midday movers: Potash, VeriFone, Goldcorp
Stocks are mixed as investors await the release of minutes from June's Federal Reserve meeting.
Fertilizer stocks, including Potash Corp. (POT), Mosaic (MOS) and CF Industries (CF), moved up modestly after the USDA slashed its forecast for corn yields.
Goldcorp (GG) slumped nearly 10% after the company reported lower than expected second-quarter gold production and reduced its full-year production guidance. Its announcement weighed a bit on peers, including Barrick Gold (ABX), Newmont Mining (NEM) and Yamana Gold (AUY).
Among the notable gainers were VeriFone (PAY), up almost 10%, after announcing a contract win and disclosing that its CEO bought shares, and Abercrombie & Fitch (ANF), up 5%, following a New York Post report that claimed the company is preparing to launch a large share buyback program.
Among the noteworthy losers were hhgregg (HGG), down about 39%, following downgrades by at least two firms after the company pre-announced disappointing first-quarter results and lowered its full-year outlook, and OCZ Technology (OCZ), down 15%, which also received multiple downgrades after its worse than expected first-quarter report.
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The idea of US crude being a shelter from turmoil abroad may not be as far fetched as it seems.
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