Take a look at some of Wednesday's midday movers:
JCPenney came off its highs after CEO Ron Johnson said the company stands by its new pricing strategy.
Hewlett-Packard fell from its highs after hedge fund investor Jim Chanos said he is short the company's stock at the "Delivering Alpha" conference presented by CNBC and Institutional Investor.
Procter & Gamble edged slightly higher after its board said it unanimously supports CEO Bob McDonald and his turnaround plan.
Capitol One fell after agreeing to pay $210 million to settle charges that it pressured credit card customers to buy extra credit card products. The bank also announced it would release its second-quarter earnings after the bell Wednesday, a day earlier than expected.
Tiffany rose after Goldman upgraded the upscale jewelry retailer to "buy" from "neutral," adding the company's long-term brand franchise remains rock solid.
Saks fell after Goldman downgraded the company to "sell" from "neutral," citing the weakening economic environment.
WW Grainger soared after it reported better-than-expected earnings and boosted the low-end of its fiscal year outlook.
Ford and General Motors gained after JPMorgan initiated coverage on both with an "overweight" rating.
Anadarko rose after the announcement that its drilling partner has struck oil in Ghana.
Air Methods jumped after the air medical emergency transport services company raised its second-quarter guidance.
Agrium rose after the company raised its second-quarter and fiscal first-half earnings guidance. Other fertilizer stocks, including CF Industries, Potash and Mosaic were also higher.
Amphenol rose after the electronics-equipment maker raised its 2012 estimates.
Interactive Brokers lost ground after it warned on its conference call that it will continue to face strong headwinds for at least another couple of quarters.
St. Jude Medical slid after the heart device maker dialed back its outlook for the third quarter and the full year.
Mednax fell after Deutsche Bank downgraded the health-care provider to "sell" from "hold" and dropped its price target to $58 from $73. Mednax specializes in intensive care for critically ill pregnant women and newborns.
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