Stocks to Watch: DD, BBY, GSK & More
Take a look at some of Monday's midday movers:
Dupont fell after Jefferies downgraded the stock to "hold," citing weak demand in Europe.
Best Buy jumped on continued takeover speculation.
GlaxoSmithKline was higher after the drug company settled fraud charges for $3 billion dollars. And earlier, the company’s experimental lung drug showed positive results in a late stage clinical trial.
Brightpoint soared after IngramMicro bought its smaller rival for $650 million in cash, a 66 percent premium from its Friday close.
Fastenal moved lower after UBS cut its price target and 2012 and 2013 earnings estimates, citing a weaker manufacturing outlook.
Everbank moved higher after it said it would buy GE Capital’s Property Lending unit for $2.5 billion. (GE is the minority shareholder of NBCUniversal.)
Sunoco and Carlyle Group both rose after the two reached a joint venture agreement to keep the largest refinery on the east coast running.
Acuity Brands jumped after the lighting fixture maker reported better than expected third quarter profits. This on stronger sales volume and higher prices.
Proctor & Gamble was lower after Morgan Stanley continued to say that earnings estimates for the company are too high.
Dollar Tree lost ground after Deutsche Bank and Nomura downgraded the stock from "buy" on valuation concerns.
Alcoa a bit lower after analysts polled by Thomson Reuters expected the aluminum maker to post second quarter earnings of 6 cents a share, down from 11 cents a month ago. Alcoa kicks off the earnings season next week.
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