Midday movers: Philip Morris, Apple
Stocks rally on Fed announcement of more economic stimulus.
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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These hot movers could rise by double digits in coming months.
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