Stocks to Watch: GG, AAPL, GSK & More
By: Take a look at some of Wednesday's morning movers:
Goldcorp - The gold producer has cut its full-year guidance for production levels. The company cites reduced output at mines in Ontario and in Mexico.
Apple - San Francisco officials are moving to block municipal purchases of Apple computers. That comes after Apple removed a green electronics certification from its products. That certification sets minimum standards for ease of recycling and energy efficiency. Separately, UBS has begun coverage of Apple with a "buy" rating, citing the potential for a rally inspired by an iPhone 5 release.
GlaxoSmithKline - The drugmaker's experimental once-daily drug to treat AIDS shows an advantage over market leader Atripla, made by Gilead Sciences.
AMR - The American Airlines parent is moving ahead with assessing potential merger partners and plans to reach out to interested parties. U.S. Airways, JetBlue, Alaska Air, Republic Airways’ Frontier unit, and Virgin America are all being considered.
HHGregg - The company is forecasting a wider-than-expected loss for its first quarter and has also cut its full-year outlook. The appliance and electronics chain has been facing shrinking demand, as well as higher costs.
Yahoo - Yahoo's board is meeting today to discuss the company's search for a permanent CEO, although it's not known if an announcement will be made. Interim CEO Ross Levinsohn is said to be the leading candidate for the permanent job.
Duke Energy - UBS has downgraded the utility company's stock to "neutral" from "buy." Three company executives have now resigned following the completion of the Progress Energy acquisition and the ouster of its chief executive.
Dendreon - Bank of America/Merrill Lynch has downgraded the drugmaker's stock to "underperform" from "neutral." The firm also cut its price target for Dendreon to $6 per share from $13.
Staples, OfficeMax - Bernstein has downgraded both stocks to "market perform" from "outperform," citing economic sluggishness in the U.S., as well as concerns over Europe's ongoing fiscal crisis.
Beazer Homes - The home builder priced an offering of 22 million shares at $2.90 per share, a 2.7 percent discount to Tuesday's closing price.
—By CNBC’s Peter Schacknow
Questions? Comments? Email us at marketinsider@cnbc.com
