Midday movers: McDonald's, Priceline, Macy's

Stocks are up modestly after paring morning losses.

By MSN Money Partner Aug 8, 2012 1:06PM
Information provided by Theflyonthewall.com

Starbucks (SBUX) announced a partnership with mobile payments start-up Square, under which Square will process Starbucks' U.S. credit and debit card transactions, and the coffee giant will invest $25 million in the company started by Twitter founder Jack Dorsey.

McDonald's (MCD) slid 1.5% after reporting its July global comparable sales were flat, with both Europe and the Asia Pacific, Middle East and Africa region dragging on results.

Among companies reporting earnings last night and this morning, Disney (DIS), Macy's (M), Rackspace (RAX) and Express Scripts (ESRX) advanced, while Avnet (AVT), Ralph Lauren (RL) and Jazz Pharmaceuticals (JAZZ) declined.

Among the notable gainers Wednesday were Dean Foods (DF), up 36%, after its "beat-and-raise" quarter and its announcement of plans to spin off its WhiteWave Foods unit, and Lamar Advertising (LAMR), up 10%, after its earnings were in-line with consensus, but it also said it is considering converting into a real estate investment trust. 

Among the noteworthy losers were Priceline.com (PCLN), down 16%, after the stock was downgraded at several firms and price targets were trimmed at several others following its disappointing guidance, and Warner Chilcott (WCRX), down 6%, after it increased its annual dividend payout rate and declared a special dividend, but also said it has completed its strategic review without finding a buyer for the company. 

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