Stocks to Watch: TJX, CHK & More
Take a look at some of Tuesday's midday movers:
Homebuilders Lennar , KBHome , Pulte and Toll Brothers rallied after the National Association of Homebuilders reported that confidence among U.S. homebuilders rose to its highest level in five years.
Chesapeake Energy - Shares dropped following a credit rating downgrade and news that the natural gas producer will boost its borrowings to $4 billion from the planned $3 billion as it faces a liquidity crunch.
BMC Software - The company’s stock rose after Corvex Management, founded by one of activist investor Carl Icahn’s longtime associates, took a stake in the technology company, according to a federal filing.
Lockheed Martin - The stock slipped after the Pentagon announced new safety precautions on the defense contractor's F-22 fighter jets after pilots experienced symptoms of oxygen deprivation aboard the stealth aircraft.
TJX - The stock rallied after the off-price retailer posted better than expected earnings on strong sales in Europe. It also raised its 2012 forecasts.
JCPenney - The stock was lower ahead of earnings this afternoon. Analysts are expecting a loss of 11 cents a share on revenue of $3.4 billion.
Arctic Cat - The stock plunged after the maker of snowmobiles forecast weak 2012 results. Arctic Cat shares have doubled in value so far this year.
Valspar - The stock fell even after the paint and coatings maker posted a quarterly profit above analysts’ expectations for the seventh straight quarter. Valspar raised its forecast for 2012. The stock has risen 13 perecnt over the past 3 months, reaching a high of $52.96 last week.
A123 - The stock jumped after the lithium-ion battery maker said it corrected the cause of its battery defect and that demand remains strong.
Renren - The stock soared after the Chinese social networking site posted quarterly results ahead of analysts’ estimates, boosted by revenue from gaming services.
Patriot Coal - The tumbled after the coal miner cut its outlook for metallurgical coal sales volume, citing a potential default by a key customer. Other coal companies were also lower including Peabody Energy , Arch Coal ,Consolidated Energy and Alpha Natural near a five-year low.
Cardinal Health - The stock slipped after the wholesaler of prescription drugs agreed to a two-year suspension for shipping controlled substances from its Lakeland, Florida distribution center as part of a litigation settlement with the U.S. Drug Enforcement Agency.
Vimpelcom - The stock edged higher after the telecom operator said it sees signs of a turnaround in its core russian business and said it has a good chance of winning one of the next-generation 4G licenses to be award by the government.
Angie’s List - The stock was lower following news of a secondary offering.
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