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Midday movers: Tesla, Gannett, JCPenney & more

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

Tesla moved lower amid reports that the electric car maker's sales might be slowing in Germany.

Gannett lost ground after the company reported a 4-percent drop in third quarter revenue due to declining ad sales at its newspapers.

JCPenney fell below $7 a share after research firm Imperial Capital warned that the retailer could seek bankruptcy protection next year and slashed its price target to $1 a share.

Salesforce.com rose after Raymond James upgraded the tech company to "strong buy" with a price target of $64 on favorable fundamentals.

Facebook traded slightly lower. Earlier Monday morning, the social-networking giant said it experienced an issue that prevented some users from posting for a brief period of time. By 11am ET, the company said the site is 100 percent up and running.

First Solar surged after JPMorgan named the solar company as one of the top picks in the clean-tech sector.

Abercrombie & Fitch moved lower after Macquarie downgraded the retailer to "neutral" from "outperform" and lowered its price target to $36 on weak sales.

Goodyear lost ground after Deutsche Bank downgraded the stock to "neutral" from "buy" with a price target of $26, citing an uncertain margin outlook.

Royal Bank of Canada gained ground after the bank said it would buy back up to 30 million of its shares.

Manpower Group fell despite reporting a 50-percent jump in quarterly profits on cost cutting and improved hiring trends in Europe.

—By CNBC's Rich Fisherman.

Questions? Comments? Email us at marketinsider@cnbc.com

  • Patti Domm

    Patti Domm is CNBC Executive Editor, News, responsible for news coverage of the markets and economy.

  • A CNBC reporter since 1990, Bob Pisani covers Wall Street from the floor of the New York Stock Exchange.

  • CNBC Senior Commodities Correspondent and Personal Finance Correspondent

  • JeeYeon Park is a writer for CNBC.com. Follow her on Twitter: @JeeYeonParkCNBC

  • Rick Santelli joined CNBC Business News as an on-air editor in 1999, reporting live from the floor of the Chicago Board of Trade.

  • Senior Producer at CNBC's Breaking News Desk.