Stocks to Watch: GRPN, FB, GOOG & More
Take a look at some of Monday's midday movers:
Groupon came off its lows following news the daily-deal site was buying Savored, a leading provider of reservations at the best restaurants across the U.S., for an undisclosed amount.
Facebook fell after Barron’s said the social-networking giant's stock was too pricey and that $15 a share was a more realistic price.
Google hit an all-time intraday high of $747.28 as Citi said investors have taken notice of the company’s streamlining of its Motorola Mobility business.
Apple fell after analysts were disappointed by the 5 million weekend sales of its iPhone 5 and news of employee disruptionsat its Foxconn supply plant.
Peregrine Pharmaceuticals sank after the drug maker said it discovered major discrepancies in the trial data of its lead drug, the potential lung cancer treatment bavituximab.
Veeco Instruments fell after Goldman Sachs cut its rating on the LED equipment maker to "sell" and lowered its price target to $27 from $30 on a softening outlook.
Packaging stocks including International Paper, Rock-Tenn, Kapstone and Packaging Corp all moved higher on increased containerboard prices. Int'l Paper traded at a five-year high.
Tivo rose after the company said it will receive at least $250 million from Verizon as part of a patent litigation settlement.
Chip stocks including Intel , Advanced Micro Devices and Micron all fell following analyst downgrades.
CIT Group gained ground after Stifel Nicolaus said the company could be a takeover target by Wells Fargo .
Wet Seal jumped after activist investor the Clinton Group pushed for control of the retailer.
Epocrates moved higher after Raymond James upgraded the stock to "strong buy" from "market perform."
Body Control rose after Oppenheimer upgraded the stock to "outperform."
Big 5 Sporting Goods jumped after Barron’s said the retailer’s turnaround seems to be taking hold.
—By CNBC's Rich Fisherman.
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