Stocks to Watch: ORCL, AKAM, NFLX & More
Take a look at some of Tuesday's midday movers:
Oracle moved higher after it announced it was buying social media analysis company Collective Intellect. CNBC and Collective Intellect announced a strategic content collaboration earlier this year.
Shares of content delivery companies Limelight and Akamai Technologies fell after Netflix said it was shifting move video streaming traffic to its own content deliver network. Netflix brought in 10 percent of Limelight’s revenue last year.
Westport Innovations surged after it announced it was in a deal with Caterpillar to develop natural gas-powered engines for mining trucks and locomotives.
Homebuilders, including Lennar,Pulte,Toll Brothers,DR Horton and KB Homes rose after Corelogic’s home price index jumped 2.2 percent in April from March.
Disney traded in a tight range after it said its programming will no longer be sponsored by junk food. The company says it plans to ban such ads from its TV Channels, radio stations and websites intended for children. The guidelines won’t go into effect until 2015 because of existing advertising agreements.
Sara Lee also traded in a tight range. The food company, which is splitting in two, says it’s naming its North America company Hillshire Brands. The business will house brands like Hillshire Farms, Jimmy Dean sausages and Ball Park franks and start trading under ticker symbol HSH on the NYSE on June 28th.
Walgreen’s fell after it reported same store sales fell 5.8 percent in May, hurt by a drop in prescriptions filled at its drugstores.
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