Midday movers: Apple, Intel, Dollar Tree & More
Take a look at some of Wednesday's midday movers:
Apple moved higher after Carl Icahn tweeted that he bought $500 million more shares in the last two weeks. He now owns more than $3 billion worth of the stock. Icahn lashed out against Apple, saying the company was doing shareholders a disservice by refusing to boost its stock-buyback program.
Verizon Communications fell after Pacific Crest downgraded the stock to sector perform from outperform, citing increased competition in the wireless market.
Abbott Laboratories lost ground after reporting weaker-than-expected fourth-quarter revenue, hurt by disappointing sales of its generic drugs.
Brinker International rose after posting better-than-expected second-quarter earnings. Brinker is the owner of Chili's and Maggiano's restaurant chains.
Intel moved lower after Drexel Hamilton downgraded the stock to hold from buy and cut its price target to $26 from $30 a share.
Medtronic came off its lows after the Supreme Court ruled in its favor in its dispute with privately owned Mirowski Family Ventures over whether it infringed on Mirowski's patents.
Dollar Tree fell after Sterne Agee downgraded the stock to neutral from buy and cut its price target to $56 from $63 a share.
Amag Pharmaceuticals lost ground after the FDA rejected its application for wider use of its iron deficiency drug due to safety concerns.
Salesforce.com fell despite being added to FBR Capital's top picks list.
UMB Financial rose after Sterne Agee upgraded the investment bank to buy and set a $675 a share price target.
(Read More: See CNBC's Market Insider Blog)
—By CNBC's Rich Fisherman.
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