Stocks to Watch: BBY, GG, XOM & More
Take a look at some of Thursday's midday movers:
Gold stocks fell, including Goldcorp,Yamana Gold,Barrick Gold and SPDRGold Shares as gold prices retreated from its recent run-up.
But energy stocks rose, despite oil prices turning negative on Fed Chief’s Bernanke’s Capitol Hill testimony. Exxon Mobil,Chevron, Peabody Energy and AnadarkoPetroleum all moved higher.
Material stocks also gained ground on news that China cut its interest rates. US Steel,Cliffs Natural Resources,International Paper and Allegheny Technologies all to the plus side.
Best Buy lost ground after the company’s founder, Richard Schulze, said he was resigning as chairman, and exploring all options for his 20 percent stake in the electronics retailer.
Investors cast a pall on Pall Corp after the diversified manufacturer reported a lower than expected quarterly profit as a supply chain disruption delayed shipments to Europe.
Titan Machinery was hit hard after the farm equipment retailer, while reporting higher first quarter profits, warned that growth in same store sales would slow.
Comverse Technology also slumped, after the company posted a surprise quarterly loss. The telecom billing software maker still seeing customers defer contracts.
Mako Surgical moved higher after William Blair & Co raised its rating and forecast strong sales for the second quarter. The medical device maker is known for its robotic devices that help surgeons conduct less invasive operations.
Pfizer jumped after it said it planned to separate its animal health unit into a standalone company. This as the drugmaker focuses on its core drug business.
Casual Dining stocks were mostly lower after Janney reduced estimates for Darden,Cheesecake Factory, DineEquity and PF Chang. The firm cites industry sources who say May could have been the worst month for the group in over two years.
Nautilis moved lower after it voluntarily recalled about 17 thousand Bowflex dumbbells. This on concerns the weight plates could fall and pose an injury hazard, according to the US Consumer Product Safety Commission.
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