Midday movers: McDonald's, Deutsche Bank
Stocks are higher despite Moody's warning about a possible US credit rating cut.
In a research note sent to investors Tuesday, JP Morgan commented that Apple's (AAPL) new iPhone 5 could add as much as 0.25% to 0.50% to GDP.
American International Group (AIG) was the subject of a successful stock offering from the U.S. government, which cut its stake in the company from more than 50% to 21%.
McDonald's (MCD) shares were fractionally higher after it reported global same-restaurant sales rose 3.7% in August, with the U.S. up 3%, Europe up 3.1%, and Asia/Pacific, Middle East and Africa up 5.7%. Though the results were slightly weaker than consensus expectations, they represented a rebound from July's flat global same restaurant sales.
Morgan Stanley (MS) and Citigroup (C) reached a deal for Morgan Stanley to take full control of their retail brokerage joint venture, Morgan Stanley Smith Barney, by mid-2015.
Among the notable stock market gainers Tuesday was Sunesis Pharmaceuticals (SNSS), which rose 33% after an independent board monitoring one of its drug trials recommended the trial admit more patients, which also triggered a milestone payment to the company.
Also higher were shares of Deutsche Bank (DB), up almost 6% after the company announced a set of longer-term strategic and financial goals and its CEO said its job cuts will go beyond prior expectations.
Among the noteworthy losers was Navidea Biopharmaceuticals (NAVB), which fell 24% after ThinkEquity downgraded the stock following the company's receipt of a complete response letter from the FDA for its Lymphoseek drug application.
Also lower was United Natural Foods (UNFI), down 8% after its earnings guidance for the upcoming fiscal year was below consensus.
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.
The apparel chain takes a hard hit after blaming the weather for its quarterly sales decline. But cold temperatures don't explain the drop in full-year sales as well.
VIDEO ON MSN MONEY
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.