Stocks to Watch: FDX, STT, MAT & More
Take a look at some of Tuesday's midday movers:
FedEx fell on news that it could lose a $1 billion Post Office Contract to UPS .
State Street fell after it reported second quarter earnings dropped 4 percent, in part on weakness in international stock markets. Separately, State Street said it would buy Goldman Sachs’ hedge fund administration business for $550 million in cash.
Toy stocks were higher following Mattel’s stronger than expected second quarter results. Hasbro, Jakks Pacific and Leapfrog all moved to the upside.
Dish Network jumped after Wells Fargo made its case for the bull argument and reiterated its "outperform" rating.
Fertilizer stocks including Mosaic, Potash, Agrium, and CF Industries were higher as the drought continued to hit play havoc with corn crops.
Homebuilding stocks including Lennar, DR Horton, KB Home, and Pulte were lower despite a surge in homebuilder sentimentfor July. Raymond James downgraded KB Home and DR Horton to "underperform," citing their exposure to entry-level buyers, which the firm said continues to be weak.