Stocks to Watch: NKE, MO, MSG & More
Take a look at some of Friday's midday movers:
Nike moved higher after the company said it plans to continue to support Lance Armstrong even if he is stripped of his seven Tour De France titles. Meanwhile, UBS raised its price target on the stock to $106 from $99 and has a "buy" rating on the stock.
Cigarette stocks, including Altria, Reynolds American, Lorillard and Philip Morris International were mixed after a U.S. appeals court said the tobacco companies didn’t have to comply with graphic new label requirements. Separately, Altria raised its dividend 7.3 percent to 44 cents a share.
Madison Square Garden rose after it reported better-than-expected quarterly earnings. Revenue grew 74 percent to $131 million.
Calloway Golf moved lower after the golf-equipment maker said it will exchange nearly 1 million shares of convertible preferred stock into new debt. This will result in 5.9 million more shares as part of the agreement.
TripAdvisor gained ground after Citigroup upgraded the travel site to "buy," citing valuation. The stock is still off 30 percent from its July 19 high.
Micros Systems surged after the maker of point-of-sale computer systems reported better-than-expected earnings and raised its 2013 revenue guidance.
Zumiez fell after the teen apparel retailer announced the resignation of CFO Marc Solzman, replacing him with Christopher Work.
Black Hills rose after it agreed to sell 85 percent of its Bakken shale assets in North Dakota to QEP Resources for about $243 million.
Solera Holdings lost ground after the auto-insurance software maker gave downbeat guidance after reporting better-than-expected earnings.
Staples moved a bit lower after Morgan Stanley downgraded the stock to "equalweight," saying the company lacks a quick fix to turn things around.
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—By CNBC's Rich Fisherman.
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