Midday movers: US Airways, Navistar, Facebook

Stocks rally after Fed Chairman reiterates his willingness to act as needed to combat the challenges facing the US economy.

By MSN Money Partner Aug 31, 2012 12:55PM
Wall Street sign copyright Comstock Images, age fotostockInformation provided by Theflyonthewall.com

 US Airways (LCC) and AMR Corporation (AAMRQ), the bankrupt parent company of American Airlines, entered into a non-disclosure agreement, under which the companies said they would work in close collaboration with AMR's unsecured creditors to evaluate a potential merger. 
Shares of US Airways rose about 3% following the joint announcement.

Among the notable gainers Friday were Splunk (SPLK), up 16% after its Q3 revenues came in higher than expected and it raised its full-year sales view, and Navistar (NAV), up over 6% after the EPA issued its Final Rule for nonconformance penalties for on-highway heavy-duty diesel engines. 

Among the noteworthy losers were Zumiez (ZUMZ), down 11% following its disappointing results and guidance, and Facebook (FB), down over 4% to new lows after a BMO Capital analyst said the company is losing momentum and Merrill Lynch said it expects further selling pressure on shares from multiple coming lock-up expirations.
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