Stocks to Watch: FB, AMLN, GM & More
Take a look at some of Friday's midday movers:
Facebook traded lower once again. The company is on track to post the biggest 2 week loss of any IPO since 1995. It is down nearly 28 percent from its IPO price of $38 a share.
Quest Software fell after a reuters report said Dell broke off negotiations to buy the company.
Teva Pharmaceuticals came off its lows after the company said its chairman, Philip Frost, purchased 1 million shares Wednesday at prices ranging from $37.82 to $39.57. Teva has a market value of about $38 billion.
Human Genome fell after it rejected GlaxoSmithKline’s unsolicited $13 a share bid, calling the offer inadequate and not in the best interest of its shareholders.
Amylin jumped after first round bids for the company came in over $25 a share.
General Motors turned higher after it announced new pension plan actions. It is offering 42,000 salaried retirees a lump-sum payment. As a result it expects to reduce its pension obligations by $26 billion. Earlier, GM had lost ground after reporting disappointing auto sales for May. Ford Motor, meanwhile, was lower after reporting mixed results.
Credit-card companies taking a hit after the weak jobs report. MasterCard; Visa; Discover Financial Services; Capitol One, and American Express all moved to the downside.
Grouponfell to a new low as more than 600 million shares, representing 93 percent of shares outstanding, were released from restrictions on insider selling.
Energy stocks, including Exxon Mobil, Chevron, Schlumberger, and Baker Hughes slid as oil prices continued to fall in the wake of a weakening global economy.