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Midday movers: BlackBerry, J&J, Herbalife & more

Monday, 4 Nov 2013 | 12:17 PM ET

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

BlackBerry fell after the company announced it was no longer for sale and would replace its CEO, Thorsten Heins, with former Sybase CEO John Chen, on an interim basis.

Johnson & Johnson also lost ground after it agreed to pay $2.2 billion to end U.S. marketing probes into its Risperdal drug.

Herbalife continued to drop after CNBC reported that Pershing Square Manager Bill Ackman is preparing another attack on the company.

Linn Energy and Berry Petroleum both rose after Linn increased its offer for Berry by $600 million to $4.9 billion.

Kellogg gained ground after reporting better-than-expected third-quarter earnings and said it would cut about 7 percent of its workforce by 2017.

Ryanair fell after the European Budget airliner slashed its earnings forecast for the second time in recent months, pointing to the weakening economy and increased competition.

JCPenney moved higher after JPMorgan said the retailer may experience a "Santa's Rally."

Sysco rose after the food distributor reported a better-than-expected quarterly profit.

Men's Wearhouse moved lower after it rejected Jos. A. Bank's request to see its books.

IBM ticked higher after the tech giant said it is suing Twitter for patent infringements. Separately, Twitter earlier raised its IPO price to $23 to $25 a share, from $17 to $20, and is expected to go public on Thursday.

Telecom components maker Anaren gained ground after it said it would be acquired by Veritas Capital Fund IV for $381 million, or $28 a share. That trumped a $23 a share bid in April from Vintage Capital Group that Anaren rejected.

Time Warner Cable was lower despite being upgraded to "buy" from "hold" by Deutsche Bank, which said the cable operator's poor fundamentals were bottoming and it could be a takeover target. On Friday, Reuters reported that Charter Communications would make a bid for the company by the end of the year.

Agrium gained ground after HSBC upgraded the stock to "overweight" from "neutral" with a price target of $105.

—By CNBC's Rich Fisherman

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

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Featured

  • 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.

  • Sharon Epperson is CNBC's senior commodities 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.

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