Midday movers: McDonald's, Deutsche Bank

Stocks are higher despite Moody's warning about a possible US credit rating cut.

By MSN Money Partner Sep 11, 2012 12:59PM
Image, Wall Street sign, copyright Corbis, SuperStockInformation provided by Theflyonthewall.com

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.
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