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Midday Movers: AAPL, LLY, INTC & More

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

Nasdaq-100 Power Shares fell below its 50-day moving average as Apple hit correction territory.

(Read More: Apple's Stock Is Down Over 10%—Time to Buy?)

Eli Lilly gained ground for the second straight day on reports of potential Alzheimer treatment.

Intel led the Dow lower after Bernstein downgraded the chipmaker to "underperform" and Nomura reduced its profit estimates on the company through 2013.

Verifone slid following a Forbes report that competitor Square is planning to announce a partnership with NYC to implement a payment systems in city cabs.

VMware moved lower after the company noted the competitive impact from new Microsoft products.

Owens Corning lost ground after the company said roofing sales would hurt 2012 profits.

Baidu fell after Credit Suisse downgraded the Chinese Internet search firm to "underperform" from "neutral" with a target price of $83, saying its monopoly in China is waning.

Continental Resources gained ground after the company said it plans to triple its production and proven reserves by the end of 2017.

Orbotech fell after the electronics equipment maker cut its 2012 revenue outlook for the second time.

Questcor Pharmaceuticals rose after releasing monthly sales for its Acthar drug prescriptions. Jefferies upgraded the stock to "buy" from "hold" with a $28 target, saying it believes that insurers are likely to provide coverage for the drug.

Trinity Industries moved higher after Raymond James upgraded the railcar maker to "strong buy" from "market perform."

Lazard moved lower after UBS initiated coverage of the company with a "sell" rating.

(Read More: CNBC's Market Insider Blog)

—By CNBC's Rich Fisherman.

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

  • 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.

  • CNBC Personal Finance Correspondent

  • JeeYeon Park is a writer for CNBC.com. Follow her on Twitter: @JeeYeonParkCNBC

  • Rick Santelli joined CNBC Business News as an on-air editor in 1999, reporting live from the floor of the Chicago Board of Trade.

  • Senior Producer at CNBC's Breaking News Desk.