Midday Movers: Apple, JPMorgan, Herbalife & More
Take a look at some of Tuesday's midday movers:
Apple shares were lower as CEO Tim Cook testified before a Senate Subcommittee hearing on U.S. tax policy on overseas profits for corporations.
JPMorgan Chase moved up after a shareholder proposal to split the roles of Chairman and CEO was narrowly defeated.
Herbalife was halted and then moved higher after the company announced PricewaterhouseCoopers as its new auditor. Herbalife also said that PricewaterhouseCoopers would re-audit the company's financial statements from 2010, 2011, and 2012.
Beazer Homes was lower after the homebuilder was cut to "neutral" from "buy" at Sterne Agee. Others in the homebuilding sector, including PulteGroup, Lennar, Toll Brothers and DR Horton, got slammed along with Beazer
Philip Morris International was lower after saying it would buy out billionaire Carlos Slim's Grupo Carso from their joint venture for about $700 million.
In an analyst note, Goldman Sachs lowered its PC forecast and raised its outlook for tablets. Goldman now sees PC units declining by 6.8 percent in 2013, down from prior forecast of 3.8 percent. Apple, EMC, and IBM are Goldman's favorite names, but the firm says to avoid "hefty PC, server or printing exposure" and has "sell" ratings on HP, Lexmark and QLogic.
GameStop was lower despite a research note from Sterne Agee that raised the price target on the video game retailer to $46 from $35 per share, and kept its "buy" rating.
(Read More: See CNBC's Market Insider Blog)
—By CNBC's Lori Spechler
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