Stocks to Watch: GERN, HPQ, ANR & More
Take a look at some of Monday's midday movers:
Geron lost half its value after the biotech company said its breast cancer drug failed a trial.
Hewlett Packard rose after the company said it would cut 29,000 jobs, an additional 2,000 than previously announced.
Coal stocks including Alpha Natural, Peabody, Cliffs Resources, and Arch Coal were on fire for the second consecutive session following last week's news that China would begin a $157 billion infrastructure program.
Titan Machinery plummeted after the agricultural and construction-equipment retailer reported a 17-percent drop in second-quarter profits.
Kraft moved higher after RBC upgraded the company to "outperform" from "sector perform."
Transocean fell after Raymond James said the offshore-drilling contractor's asset sale came in below forecasts. Separately, Reuters reported the company had discussed a $1.5 billion settlement with the Department of Justice over the Gulf oil spill.
Packaging stocks, including Rock-Tenn , Kap-Stone and International Paper lost ground after Deutsche Bank cut the group to "hold," amid questions over whether the companies will be able to raise expected containerboard prices.
Sprint rose after Nomura upgraded the nation’s third largest wireless carrier to "buy" from "neutral" and raised its price target to $7 a share.
KSW surged after the heating, ventilation and air conditioning-systems provider agreed to be acquired by Related Cos. for $32 million in cash, or about $5 a share.
—By CNBC's Rich Fisherman.
Questions? Comments? Email us at marketinsider@cnbc.com
