Midday Movers: CLF, FCX & More

Market Insider | What's Shaking | Stocks to Watch

Take a look at some of Tuesday's midday movers:

Cliffs Natural surged following data that showed inflation in China was slowing, which is seen as potentially bullish for growth and therefore, commodities.

Materials was the best performing S&P 500 large-cap sector including miner Freeport-McMoran.

Herbalife moved lower after news that KPMG had resigned as its auditor. In a statement, Herbalife said that the resignation was due to "alleged insider trading in Herbalife's securities by one of KPMG's former partners."

Skechers moved higher after Skechers also announced the resignation of KPMG as its lead auditor. In a statement, Skechers said that the resignation was "due to misconduct by KPMG's lead audit engagement partner on the Skechers account." The footwear company also said that it was eager to hire a new audit firm as it "prepares to announce positive Q1 2013 financial results."

First Solar popped on its analyst day as investors cheered the company's lower target production costs.

—By CNBC's Lori Spechler

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