Midday Movers: IBM, NFLX & More
Take a look at some of Wednesday's midday movers:
Valero Energy, CVR Energy and Hollyfrontier were downgraded at Macquarie Capital on concerns about the refiners meeting U.S. renewable fuel standards. "Life is good as an investor in refining stocks, until it stinks," wrote Macquarie's Chi Chow. All three stocks were lower.
Abercrombie & Fitch traded higher following comments from its CFO Jonathan Ramsden. At an industry conference, Dow Jones quoted the CFO as saying that the teen retailer will look to cut back on discounts and will use customer information to be more "personalized" and streamlined with deals.
EBay traded lower after a study by the e-commerce giant questioned the value of paid search ads.
Cliff Natural Resources fell to a new 3-1/2 year low. The stock ha tumbled nearly 40 percent in 2013.
Two sectors continued to power higher: airlines and defense.
—By CNBC's Lori Spechler
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