Midday Movers: PFE, PCS & More
Take a look at some of Wednesday's midday movers:
Pfizer gained following news that the company's experimental breast cancer drug, palbociclib received FDA breakthrough therapy designation. Analysts forecast potential sales of $5 billion a year or more if approved for use.
MetroPCS Communications popped following a report that T-Mobile is likely to sweeten deal terms for the potential telecom merger.
CarMax moved higher after the used-car retailer reported fourth-quarter earnings of 46 cents a share, in line with estimates. The biggest retailer of used-vehicles in the U.S. said that comparable used-car sales rose 6 percent in the quarter.
First Solar pulled back after Tuesday's monster rally. Several analysts posted commentary following the record run including a Jefferies analyst who called First Solar the best company in a bad space and sees the recent stock move as overdone.
Ryder System moved higher as its 10-day moving average broke above its 30-day moving average.
Computer Sciences also moved higher. Of note, most recent data showed that short interest in the company has declined by roughly 50 percent.
Fastenal traded lower despite posting first-quarter earnings that were in line with estimates. The company also warned that the economic activity of its customers had slowed. Fastenal sells fasteners, tools and other industrial and construction supplies.
—By CNBC's Lori Spechler
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