Stocks to Watch: JPM, AAPL, SHAW & More
Take a look at some of Monday's midday movers:
JPMorgan fell after Deutsche Bank downgraded the stock to a "hold" based in part on its recent rise. It also cited its legal matters remain uncertain regarding the Libor scandal.
Apple moved higher on reports it will launch its next-generation iPhone, a rumored iPad Mini, and a new iPod nano on September 12th.
Shaw Group soared after Chicago Bridge & Iron agreed to buy the company for about $3.4 billion, or $46 a share in cash and stock, a 41-percent premium.
Coca-Cola rose after it announced a new operating structure, dividing its global business into three units and giving execs Steve Cahillane and Ahmet Bozer much larger roles as it begins the process of seeking a successor for CEO Muhtar Kent.
Loews lost ground after the company reported its net profit declined to $56 million from $250 million the year before.
Eli Lilly fell after Jefferies downgraded the stock to "underperform" from "hold." It said it expects the drugmaker’s Alzheimer’s treatment to fail in late stage testing.
Salix Pharmaceuticals and Progenics Pharmaceuticals tumbled after the FDA rejected their constipation drug.
Natural gas stocks, including Southwestern Energy, Range Resources and Cabot all gained as natural gas rose five percent.
Armstrong World fell after it cut its 2012 outlook.
CIT Group rose after it reported a second-quarter loss that still beat Street expectations. CIT is headed by former Merrill Lynch CEO John Thain.
Mercury General moved lower after the insurer’s big second-quarter earnings miss.
TriMas moved higher after it reported better than expected quarterly results and a 17-percent rise in revenue. It also gave an upbeat outlook for the rest of the year.
MagicJack jumped after the Israeli provider of Internet-based phone services reported better than expected second-quarter profits.
Lincoln Electric fell after its second-quarter earnings came in below Street expectations.
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