Stocks to Watch: RIMM, AAPL, ANR & More
Take a look at some of Wednesday's midday movers:
Research In Motion saw a lift after Goldman Sachs raised its estimates on the stock, citing the unexpected increase in the smartphone maker’s subscriber base announced at the BlackBerry jam conference on Tuesday.
Meanwhile, shares of Apple moved lower, adding to Tuesday’s decline. Apple is down about 5 percent since the release of the iPhone 5.
Alpha Natural Resources climbed, even after news it will be replaced in the S&P 500 by Kraft Foods . The swap will be made after Kraft completes its split into two separate companies after the close on October 1. Year-to-date, ANR is down 66 percent and is the worst perform stock in the index.
American Greetings got a big boost after receiving a $532 million buyout offer from Zev Weiss, the company’s CEO. The non-binding “going private” proposal is for $17.18 per share—just under the current share price.
Biogen Idec moved higher after the company announced its experimental Hemophilia B treatment has met key goals of controlling bleeding in a late-stage study. The company is planning U.S. regulatory application for the first half of next year.
Consumer-goods company Blyth tumbled more than 18 percent amid heavy volume after ViSalus, a nutritional supplement seller and a unit of Blyth, withdrew its proposed IPO of up to $175 million, citing uncertain market conditions.
Jabil Circuit's dropped nearly 10 percent after the tech company's fourth-quarter earnings took a hit. The electronics contractor's modest revenue growth was offset by a weak current-quarter forecast on demand worries.
GT Advanced Technologies fell after a downgrade to "hold" from "buy" at Canaccord Genuity. Canaccord also lowered their target on GTAT to $6 from $9.
InterDigital Inc and Genesee & Wyoming both traded higher following news the companies will be the newest additions to the S&P Midcap 400 Index—Genesee & Wyoming will replace Collective Brands after the close October 1, and InterDigital will take QuestSoftware’s spot after the close on September 28.