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Stocks to Watch: KCP, MTN, BAC & More

Wednesday, 6 Jun 2012 | 1:06 PM ET

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

Kenneth Cole Productions moved higher after fashion designer Kenneth Cole offered to take the company private, buying the rest of the company he already doesn’t own for $15.25 a share or about $245 million. The board approved the offer after rejecting his earlier bid of $15 a share.

Vail Resorts also higher after it reported its third quarter earnings rose 4 percent. While its revenues dipped it still came in higher than wall street estimates

Banks one of the big winners in the session. Bank of America enjoying its best day since last October. Goldman Sachs,JP Morgan,Citigoup, and Wells Fargo also rose.

Morgan Stanley rose after CNBC’s Kate Kelly reported that the company is considering selling a stake in its commodities unit.

  Price   Change %Change
NOVU
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SC0Y
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GS
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WFC
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Gold stocks also moved higher, reflecting the rise in gold prices. Goldcorp, FreeportMcMoran, and SPDR Gold shares all rallied.

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YNP
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FCX
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G
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That is too late for the CEO of Barrick Gold. The company ousted its President and CEO, Aaron Regent, citing its disappointing stock performance. The stock is down 16 percent over the last six months. Regent is being replaced by Chief Financial Officer Jamie Sokalsky.

Barnes and Noble fell after news that billionaire investor Ron Burkle divested most of his stake in the company, leaving him with 0.9 percent. He previously owned 19.7 percent.

Groupon jumped after Stifel Nicolaus upgraded the stock to "hold," citing potential growth areas, such as pushing into direct e-commerce.

Homebuilders on the rise after Credit Suisse upgraded Ryland and Pulte. The firm said investors need to take advantage of the recent dip in shares, noting its recent survey of real estate agents points to continued strength in home prices. Lennar,Toll Brothers, and DR Horton also moved higher.

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DHI
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LEN
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RYL
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TOL
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Diageo jumped after it said it would invest $1.5 billion in scotch whisky over the next 5 years to meet growing demand.

Fifth and Pacific gained ground after it said it planned to buy the 51 percent stake of Kate Spade Japan it does not already own for between $45 and $50 million. Fifth and Pacific changed its name from Liz Claiborne last month.

LinkedIn was lower on word that nearly 6 and a half million passwords were leaked online after an apparent hack.

Questions? Comments? Email us at marketinsider@cnbc.com

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TOL
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BKS
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ABX
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DGE
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G
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YRI
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LINKEDIN
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GROUPON
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C
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DHI
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FCX
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GS
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JPM MLP ETN
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LEN
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MS
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PHM
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WFC
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KATE
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CLD
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MTN
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Featured

  • 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.

  • Sharon Epperson is CNBC's senior commodities and 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.

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