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Stocks to Watch: BIDU, HAIN, SWY & More

Thursday, 23 Aug 2012 | 12:00 PM ET

Take a look at some of Thursday's midday movers:

Baidu fell after Deutsche Bank downgraded the Chinese search giant, saying it was expected to lose traffic share to Qihoo 360 Technology .

Hain Celestial surged after the organic foods marketer reported better-than-expected quarterly earnings. It also plans to buy packaged food lines from UK based Premier Foods for about $318 million.

Safeway lost ground after Jefferies downgraded the stock and lowered its price target from $21 to $17. The firm cited a push by Wal-Mart to open its Neighborhood Markets food stores in California, Safeway’s prime market.

Steel stocks, including AK Steel, Nucor Steel, US Steel and Steel Dynamics all fell after Dahlman Rose downgraded the sector. It said it believed steel prices will decline.

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NUE
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STLD
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Oshkosh moved higher on news the specialty truck maker was selected by the U.S. Military to develop prototype trucks to replace the Humvee utility vehicles.

InterOil rose as the company’s LNG Project got a big time partner in Korea Gas Corp.

Toro fell as the company lowered its revenue outlook.

Rahlcorp rose as activist hedge fund operator Corvex, which has sharply raised its stake in the company over the past two month, called for the company to put itself up for sale.

Signet Jewelers gained ground after the parent of Kay Jewelers posted a better than expected quarterly profit.

Federated Investors moved higher after the collapse of a tightening of rules for the money-market industry.

—By CNBC's Rich Fisherman.

Questions? Comments? Email us at marketinsider@cnbc.com

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  • Patti Domm

    Patti Domm is CNBC Executive Editor, News, responsible for news coverage of the markets and economy.

  • A CNBC reporter since 1990, Bob Pisani covers Wall Street from the floor of the New York Stock Exchange.

  • Sharon Epperson is CNBC's senior commodities and personal finance correspondent.

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