Stocks to Watch: McDonald's, Abercrombie & Fitch, Sears and More...
Stocks opened sharply lower Thursday amid continuing worries over the euro zone debt crisis, a gloomy forecast on global growth and news that jobless claims rose more than expected last week.
The Dow Jones Industrial Average plunged sharply at the open after squeezing out a small gainin the previous session.
Here are six stocks that are on the move:
McDonald's
The fast food chain was upgraded to outperform from perform at Oppenheimer.
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J. M. Smucker Company
The food company reported an eight percent rise in first quarter profit as the company raised prices to offset high commodity costs.
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Goodyear Tire & Rubber Company
The tire manufacturer was downgraded from neutral to sell at Goldman Sachs due to high raw material costs.
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Abercrombie & Fitch Co.
The apparel retailer was upgraded to outperform from neutral at Robert W. Baird.
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GameStop
The video game store reported a 23 percent drop in earnings for its second quarter thanks to a sharp decline in video game sales.
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Sears
The retailer was getting crushed after second quarter results missed estimates.
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