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Midday movers: Ross Stores, Intel, PetSmart & More

Market Insider | What's Shaking | Stocks to Watch

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

Ross Stores - Shares declined sharply after the discount-designer retailer forecast a holiday-shopping quarter beneath expectations, pointing to intensified competition and discounts.

Biogen Idec - Shares of the drug manufacturer jumped after the company said European regulators had granted its new multiple sclerosis treatment a decade of market exclusivity in the European Union.

Time Warner Cable - Its shares, along with those of Cablevision Systems and Comcast jumped amid reports of possible consolidation in the telecommunications sector.

Intel - Shares of the chip manufacturer and Dow component slid after its executives failed to inspire confidence in its ability to create a strong mobile presence at its annual investor meeting on Thursday.

Abercrombie & Fitch - The teen-apparel retailer's shares were slammed for a second day after it reported a quarterly loss, with comparable-store sales falling for a seventh consecutive quarter.

PetSmart - Shares of the pet-supplies retailer fell after the company beat third-quarter earnings beat estimates, but lowered guidance for the rest of the year.

(Read More: See CNBC's Market Insider Blog)

—By CNBC's Kate Gibson.

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