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Midday movers: Kate Spade, Macy's, Zulily & More

Adam Jeffery | CNBC

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

Akamai Technologies - The provider of content delivery services advanced after Pacific Crest raised its rating on its stock to outperform from sector perform, citing faster growth in media traffic.

Celldex Therapeutics - The drug developer rose after it announced a clinical trial a collaboration with Bristol-Myers Squibb.

Coty - The beauty care company gained after entering into a partnership with Avon Products to sell its fragrances in Brazil. It also swung to a loss in the first three months of the year but still beat street expectations.

Gaming and Leisure Properties - The company rose after Credit Suisse upgraded its stock to outperform from neutral. It also reached a deal to buy Pittsburgh-area Meadows Racetrack and Casino from Cannery Casino Resorts for $465 million.

GlaxoSmithKline - The drug developer gained after Pernix Therapeutics Holdings agreed to acquire the U.S. rights to a migraine treatment from the company for $250 million. The company also said it would continue to co-operate with Chinese authorities over allegations its for China chief ordered his sales team and others to bribe hospitals and others.

Hydrogenics - The hydrogen energy developer fell sharply after announcing a public offering of 1.5 million shares.

Intrexon - The biotechnology company rose after a flurry of insider buying, led by its CEO.

Kate Spade - The retailer advanced after its first-quarter sales grew, driven by a surge in its core brand.

Macy's - The department store operator climbed after raising its dividend and boosting its share buyback plan.

Southwest Airlines - The carrier edged lower after hiking its quarterly dividend by 50 cents and approving a new $1 billion stock buyback.

Zulily - The online retailer gained after its share lock-up expired.

(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.