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Midday movers: General Motors, Darden, PepsiCo & more

Take a look at some of Friday's midday movers:

General Motors will pay a $35 million fine as part of the Department of Transportation's investigation into the handling of faulty ignition switches. GM also agreed to take part in "unprecedented oversight requirements." Shares were slightly higher.

Darden Restaurants lost ground after the restaurant operator agreed to sell its Red Lobster seafood chain to private equity firm Golden Gate Capital for $2.1 billion in cash.

PepsiCo rose after news the beverage maker will launch a new self-service drink dispenser on Saturday.

PowerShares India Portfolio, iShares India Fifty and Wisdom Tree India Earnings all gained ground on word Narendra Modi had won a landslide victory in India's national election.

TrueCar rose about 15 percent in its market debut after the provider of localized information on new car costs priced 7.78 million shares at $9 a share, well below the expected range of $12-$14.

Jumei skyrocketed nearly 30 percent in its market debut after the Chinese online cosmetics retailer priced 11.1 million ADR shares at a higher than expected $22 a share.

Gogo advanced on news its CEO bought 30,000 shares of the company's stock at $12.96 apiece.

Canadian Solar fell after the solar panel maker forecast much lower-than-expected revenue as it expects to recognize most of its solar project sales later in the year.

Novartis lost ground after the FDA rejected its drug for acute heart failure.

Shire came off its lows on news it plans to submit a new drug application to the FDA for dry eye disease in adults.

—By CNBC's Rich Fisherman.

  • Patti Domm

    Patti Domm is CNBC Executive Editor, News, responsible for news coverage of the markets and economy.

  • Bob Pisani

    A CNBC reporter since 1990, Bob Pisani covers Wall Street from the floor of the New York Stock Exchange.

  • Peter Schacknow

    Senior Producer at CNBC's Breaking News Desk.

  • Dominic Chu is a markets reporter for CNBC.

  • Evelyn Cheng

    Evelyn Cheng is a markets writer for CNBC.

  • Sara Eisen

    Sara Eisen is a correspondent for CNBC, focusing on currencies and the global consumer.

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