Midday movers: Philip Morris, Apple

Stocks rally on Fed announcement of more economic stimulus.

By MSN Money Partner Sep 13, 2012 1:34PM
Wall Street sign, copyright Comstock Images, age fotostock

 Information provided by Theflyonthewall.com

Philip Morris (PM) rose over 2% the day after the company increased its quarterly dividend by about 10%.

Other companies that announced dividend changes included DSW (DSW), which advanced more than 1% after announcing a $2 per share special dividend, and HollyFrontier (HFC), which fell over 2% after it announced its own 50c special cash dividend.

Apple (AAPL) continued to climb the day after its launch of the iPhone 5.
 
Among the notable gainers were Pall Corp. (PLL), up 7.4%, and K12 (LRN), up 6.5%, following their earnings reports.

Also higher were shares of Equinix (EQIX), which rose over 8% after its board approved a plan to pursue conversion to a Real Estate Investment Trust.

Among the noteworthy losers were FirstMerit (FMER), down 11% after announcing a deal to acquire Citizens Republic (CRBC) for $912M, and Halcon Resources (HK), down 5% after 35M shares of its stock were sold in a secondary offering.
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