Take a look at some of Tuesday's midday movers:
Kate Spade plummeted after the women's fashion brand discussed margin pressures in its conference call. Earlier, the stock had opened higher on strong earnings.
Schlumberger slid after the oilfield services provider said sanctions against Russia would hurt its earnings by as much as 3 cents a share.
Buffalo Wild Wings moved higher after Morgan Stanley upgraded the casual dining restaurant's stock to "equal weight" from "underweight," based on strong traffic trends and valuation following a recent pullback in shares.
Electronic Arts rallied on news the game maker is extending its subscription service to more countries.
Insys Therapeutics climbed on better than expected second-quarter earnings, helped by a nearly three-fold rise in the pharmaceutical firm's cancer pain drug.
Tekmira Pharmaceuticals fell as investors took profits from the Canadian firm's stock jump in the last few days.
Energy companies, including Exxon Mobil, Chevron, ConocoPhillips, and Anadarko Petroleum, lost ground as oil prices continued to fall.
Scotts Miracle-Gro rose on news the garden products maker declared a special dividend of $2 a share and its board approved a share buyback plan of up to $500 million. The company also raised its quarterly dividend by 3 percent to 45 cents a share.
Dendreon tumbled to a 12-year low after the biotechnology company warned there was a significant risk that it will not be able to repay debt maturing in 2016.
Flower's Food lost ground after the baking company reported weaker than expected second quarter sales due to increased discounting forced by higher competition in its cake business from Hostess Brands.
Magicjack Volcaltec moved lower after reporting a 65 percent drop in second-quarter profit.
—By CNBC's Rich Fisherman.