Midday Movers: YNDX, HUM & More
Take a look at some of Tuesday's midday movers:
Yandex - On the day that Google broke above $800 a share for the first time, Yandex tumbled after Russia's dominant Internet search company said fourth-quarter profits came in below estimates and revenue growth slowed.
Health care insurers fell after the federal government's proposed 2014 payment rates for the Medicare Advantage plans were lower than expected. Humana, UnitedHealth, Cigna, Wellcare Health Plans, Coventry Health Care and Health Net were among insurers trading lower.
Red Robin Gourmet Burgers surged to its highest level since October 2007 following a bullish earnings report. The restaurant chain posted earnings that more than doubled year-ago levels and revenue jumped 17 percent. Red Robin said it also forecasts a surge in same-store sales growth, with some analysts citing room for expansion.
Solar stocks Sunpower and First Solar made big gains amid possible short covering. This sector is known for heavy short selling. However, analysts told CNBC that there is talk that solar firms could create REITs to spin off tax-free income from their solar projects. Sunpower previously addressed this issue during its earnings conference call last week.
Shares of Icahn Enterprises finally gave back some of their gains, slumping nearly 10 percent after rallying almost 35 percent last week. Friday's high was more than double where the stock traded through most of December.
—By CNBC's Juan Aruego
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