Take a look at some of Thursday's midday movers:
Sirius XM moved higher after the satellite radio company approved a $2 billion buyback and announced a special 5 cent a share dividend.
JC Penney moved higher on hopes the company would forma REIT to acquire its real estate assets, following the lead of Canada's Loblaw, which announced that move today.
Yum Brands jumped after its CEO said he sees very solid sales growth in its restaurants in China.
Vera Bradley lost ground as the company issued a fourth-quarter warning and lowered its full-year revenue forecasts.
UTI Worldwide moved lower after weaker-than-expected quarterly earnings.
Safeway moved higher after the supermarket chain moved its dividend up to December from January.
Align Technology fell after the braces maker said it expects fourth-quarter profit and revenue to be at the lower end of guidance. As a result it is cutting jobs and shuffling management.
Noble Energy gained ground on an improved fourth-quarter outlook.
Athenahealth moved higher after its CFO told investors the company aims to grow sales at a 30 percent rate over the next five years.
Freeport-McMoRan continued to fall on news that its planned acquisitions of Plains and McMoran could lead to shareholder activism. Several investment banks have dropped their "buy" ratings on the company as a result of the buyouts.
(Read More: See CNBC's Market Insider Blog)
—By CNBC's Rich Fisherman.
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The Fed may have helped prime the stock market for a Santa rally, if oil remains calm and there are no new flare-ups overseas.
Oil stocks bounced, in their best day in three years.
Traders are watching to see if the Fed will lift the market's spirits, as investors fret over a new set of worries.
Oil's fall may continue to take center stage as investors weigh if the benefits of cheaper crude outweigh pain for producers.
Patti Domm is CNBC Executive Editor, News, responsible for news coverage of the markets and economy.
A CNBC reporter since 1990, Bob Pisani covers Wall Street from the floor of the New York Stock Exchange.
CNBC's Senior Personal Finance Correspondent
JeeYeon Park is a writer for CNBC.com. Follow her on Twitter: @JeeYeonParkCNBC
Rick Santelli joined CNBC Business News as an on-air editor in 1999, reporting live from the floor of the Chicago Board of Trade.
Senior Producer at CNBC's Breaking News Desk.