Take a look at some of Wednesday's midday movers:
McMoRan Exploration and Plains Exploration soared after being bought for a combined $9 billion by Freeport-McMoRan Copper & Gold for $9 billion in cash and stock. Freeport paying $50 a share for Plains and $14.75 a share for McMoRan.
SuperValu moved higher on speculation Cerebus would buy two of its units.
Homex fell after the Mexican homebuilder issued a revenue warning for next year.
Canadian Pacific Railway gained ground after it said it would eliminate 4,500 jobs by 2016.
Fossil rose after its board authorized a $1 billion stock buyback program.
Oxford Industries plummeted after the apparel company issued a fourth-quarter earnings warning.
Mitcham Industries fell after it reported a third-qurater loss on lower revenue.
Ocwen Financial slid as New York financial regulator Ben Lawsky wants a monitor to oversee the mortgage servicer's operations as a condition of clearing two proposed acquisitions.
VeriFone Systems moved higher after UBS upgraded the electronic payments company to "buy" from "neutral," saying worries over its competition was overdone.
Toro fell after its fourth-quarter earnings dropped 95 percent on weak sales. It also said 2013 results would come in below expectations.
(Read More: See CNBC's Market Insider Blog)
—By CNBC's Rich Fisherman.
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