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Midday movers: Forest Labs, Sprint, WebMD & More

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

Forest Labs rose after the drug manufacturer said it would cut $500 million in costs over the next two year and and buy back at least $400 million in company stock.

TriQuint Semiconductor gained after investment-firm Starboard Value delivered a letter to the semiconductor company's board demanding changes because it said the stock was deeply undervalued.

Urban Outfitters fell after Sterne Agee downgraded the retailer's stock to neutral from buy.

Talisman Energy rose after the Canadian oil-and-gas company put two directors backed by Carl Icahn on its board, with the billionaire investor increasing his stake in the company.

WebMD jumped after Goldman Sachs raised its rating to neutral from sell, saying there are indications the online provider of medical information was starting to monetize its mobile inventory with higher-value pharmaceutical advertisers.

Groupon, OpenTable and Trulia fell after Goldman cut its view on their sector to neutral from attractive, citing valuation.

Cabela's climbed after Stifel Nicolaus upgraded the outdoor-goods provider to buy from hold.

Sprint slid after Macquarie downgraded the telecommunications company to neutral from outperform.

Marathon Petroleum rose after Deutsche Bank upgraded the stock to buy from hold.

Akamai Technologies fell on news it was buying cyber-security provider Prolexic Technologies for $370 million.

Biogen Idec gained after it said the Food and Drug Administration extended its review of a a drug to treat hemophilia.

Yamana Gold, Barrick Gold, Goldcorp, AngloGold and Newmont Mining all fell as gold futures dropped below $1,230 an ounce.

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

—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.