Midday movers: Adobe, Best Buy

Stocks are lower despite better than expected reports on US industrial production and Chinese manufacturing activity.

By MSN Money Partner Dec 14, 2012 2:33PM
Image Wall Street sign copyright Corbis, SuperStockInformation provided by Theflyonthewall.comlogo

General Electric (GE) boosted its dividend by 12% to 19c per share and increased its existing share repurchase authorization by $10 billion.

Among companies reporting earnings last night, Adobe (ADBE) advanced nearly 6% while VeriFone (PAY) declined over 10%.

Among the notable gainers were Solazyme (SZYM), up about 11% after announcing it has reached commercial-scale output at a facility in Iowa, and AVG Technologies (AVG), up 9% after announcing a new Search and Distribution relationship with Yahoo! (YHOO). 

Among the noteworthy losers was Best Buy (BBY), which fell over 15% after its board extended the deadline for founder Richard Schulze to deliver a potential buy-out bid. 

Also lower were shares of Centene (CNC), down over 8% after the company cut its FY12 EPS guidance. 


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