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Midday movers: Ford, General Mills, FedEx & More

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

Ford fell after the automaker said it expects pretax profits to be lower in 2014 than 2013.

Gilead Sciences rose after the company said it will seek U.S. approval in the first quarter of 2014 for a once-daily tablet containing two new treatments for hepatitis C.

General Mills lost ground after reporting lower-than-expected quarterly results. As a result, it said full-year profit could come in at the lower end of its forecast.


Micron Technology fell on a report rival SK Hynix plans to build a new factory in South Korea to make DRAM chips.

CVS Caremark gained after telling analysts its expects sales and earnings to rise in 2014. It also boosted its quarterly dividend 22 percent to 27.5 cents and approved a new $6 billion share buyback.

FedEx fell a bit after reporting weaker-than-expected second-quarter earnings. But it did raise its 2014 outlook.

Lennar rose after reporting a 13 percent jump in quarterly orders and a 32 percent jump in fourth-quarter profit. Other homebuilders also gained, including KB Home, Pulte , D.R. Horton, and Toll Brothers.

Vertex Pharmaceuticals climbed on a bullish note from Bank of America/Merrill Lynch, which said the stock could be positioned to double on positive results for its cystic fibrosis drug.

AMC Entertainment rose 9 percent in the theater chain's market debut after being priced at $18 a share.

Valassis Communications surged after bank-check printer Harland Clarke said it would buy the printer of newspaper inserts and coupons for $1.8 billion, or $34.04 a share.

Avon Products fell after Bank of America/Merrill Lynch downgraded the stock to neutral from buy.

Intel rose after Deutsche Bank added the stock to its short-term buy list, noting improving PC demand.

Delta Air Lines fell. The carrier said it won't let passengers make in-flight voice calls.

Johnson Controls lost ground after forecasting 2014 earnings below estimates.

Lennox International climbed after boosting its fiscal 2013 expectations. It also declared a quarterly dividend of 24 cents a share.

(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.