Midday movers: Netflix, JPMorgan, Citigroup

Stocks pare earlier losses after new European easing measures and signs of improvement in the US labor market.

By MSN Money Partner Jul 5, 2012 2:03PM
Information provided by Theflyonthewall.com

Chain retailers reported June sales figures, with Limited Brands (LTD), TJX (TJX), Nordstrom’s (JWN) and Saks (SKS) beating expectations, while Costco (COST), Macy's (M) and Target (TGT) all fell short of Wall Street predictions.

Volkswagen (VLKAY) agreed to acquire the 50.1% stake in Porsche (POAHY) it doesn't already own as VW aims to pass Toyota (TM) and General Motors (GM) to become the world's largest automaker. 

Among the notable gainers Thursday are two stocks that extended moves that began Tuesday: Netflix (NFLX) added another 11% after CEO Reed Hastings said earlier that customers viewed more than 1 billion hours of streaming video in June, and OraSure (OSUR) tacked on 9% to the gains it recorded late Tuesday after its in-home HIV test received FDA approval. 

Among the noteworthy losers are a number of money center banks both abroad and at home, including Banco Bilbao (BBVA), down 6%, Lloyds (LYG), down 4%, JPMorgan (JPM), down nearly 4%, and Citigroup (C), down almost 3%, amidst the global easing actions and reports of a widening of the Libor probe that has already caused a number of executive changes at Barclays (BCS).
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