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Midday movers: Hillshire, Bank of America, American Express & more

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

Hillshire Brands moved higher after the company responded to Pilgrim's Pride $6.4 billion, or $45 a share offer by saying it still believes in its own $4.3 billion offer for Pinnacle Foods, but it will review Pilgrim's offer thoroughly..

Bank of America climbed following news it resubmitted its smaller capital plan to the Federal Reserve. The bank is working to overcome the $4 billion capital error it disclosed in April.

American Express rose on some bullish comments from Morgan Stanley, which said it sees revenue growth accelerating.

WellCare hit a 52-week high and Centene a record high on speculation the two companies may be takeover targets. According to a report in Modern Healthcare, the CEO of Ascension Health said last week the company was in talks to acquire an 18 state insurer.

Aeropostale gained ground on news it secured a $150 million credit facility from private equity firm Sycamore Partners.

Riverbed Technology gained ground after Elliott Management, which owns a 10.6 percent stake, sent a letter to Riverbed's board, demanding that it engage in takeover talks. The company rejected its $21 a share bid earlier this year.

IBM lost ground on news China would no longer use its servers in the country. IBM later said it was unaware of any policy, according to Bloomberg.

NRG Energy advanced after being upgraded to "conviction buy" from "buy" at Goldman Sachs.

Momentum stocks Priceline, Alexion, Tesla, Expedia and Facebook all moved higher.

Netflix moved lower after the movie-streaming company picked up Sony animated films from Starz.

BioCryst soared on news its experimental drug to treat a rare immune disorder succeeded in a mid-stage trial.

Palo Alto Networks rose after Nomura Securities upgraded the stock to "buy" from "neutral" with a price target of $80 on the back of the company's strong fundamentals.

JinkoSolar gained ground after the Chinese Solar Panel maker posted a quarterly net profit on rising shipments to the U.S. and Japan.

Cisco Systems moved higher after Deutsche Bank upgrade the stock to "buy" from "hold" and increased its price target to $30 from $25.

General Electric gained slightly. CEO Jeff Immelt is facing a public French parliamentary grilling later Tuesday over his plan to buy the power unit of engineering group Alstom.

Omnicom and Twitter both moved higher after reaching an advertising deal worth $230 million over two years.

—By CNBC's Rich Fisherman.

  • 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 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.