Midday Movers: FB, SAI & More
Take a look at some of Wednesday's midday movers:
Facebook traded higher after the social media company reported that about 250 million people are playing games on Facebook.com each month.
SAIC hit a 52-week high after reporting better-than-expected earnings in its fourth-quarter on higher revenues from its defense solutions business.
Several notes from research analysts moving stocks:
AOL rallied on an upgrade to "overweight" from "equal-weight" at Barclays with a price target $44 per share. Barclays analyst wrote that cost cutting and incremental margins can fuel earnings growth at AOL.
Lululemon declined after the yogawear maker's price target was decreased to $62 from $67 at Macquarie Research. The Macquarie analyst wrote that a survey indicated one-third of responders were less likely to buy LULU products in the future due to quality issues.
Best Buy tumbled on a downgrade from S&P Capital IQ to "sell" from "hold."
Apollo Group was lower after brokerage Wells Fargo downgraded the for-profit education company's stock to "market perform" from "outperform," writing Apollo's "new advertising does not yet seem to be having a material effect on demand."
And dueling notes on Cliffs Natural Resources: Goldman Sachs upgraded the stock to "neutral" from "sell" with a price target of $20 versus a downgrade to "underweight" at Morgan Stanley with a price target $14 per share. Cliffs Natural was the worst performer on the S&P 500.
—By CNBC's Lori Spechler
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