Midday movers: Intel, Toyota, Petrobras & more

Trader on the floor of the New York Stock Exchange.
Brendan McDermid | Reuters
Trader on the floor of the New York Stock Exchange.

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

Dow Chemical moved higher on news the company settled its board debate with Dan Loeb's Third Point hedge fund, avoiding a proxy battle.

Commodity producers Cliff Natural Resources, Rio Tinto, and BHP Billiton all rose on China's interest rate cut.

Exxon Mobil, Chevron, Hess, and Anadarko all gained ground as China's rate cut pushed oil prices higher. UnitedContinental, American, Delta and Southwest all fell.

Petrobras rebounded amid higher oil prices worldwide. Dow Jones also cited reports from Brazilian media, which reported that the top contenders for finance minister are mostly market friendly.

Royal Bank of Scotland fell on news that the institution recognized an error in calculations for the European Bank Authority stress test. The error led to the bank's stress test ratios being overstated.

Valeant Pharmaceuticals moved higher on the firm's announcement that it cut its stake in Allergan to 0.1 percent, three days after Actavis outbid it for the Botox maker.

Toyota gained ground as the auto maker will recall 423 thousand Lexus vehicles in the United States because of a possible fuel leak that increases the risk of a fire.

Aruba Networks moved lower after the company's revenue guidance for the second quarter was light. The enterprise wireless services provider did post better-than-expected first-quarter results.

Intel came of its highs after CLSA downgraded the stock, saying the management's 2015 guidance for mid-single digit growth was optimistic.

Lionsgate moved lower. The company's latest movie in the Hunger Games series sold 17 million in tickets on its first night, less than what its predecessors brought in.