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Midday Movers: MS, GS, STX & More

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

Morgan Stanley and Goldman Sachs fell after Sandler O'Neill cut its fourth-quarter estimates on both banks.

Seagate Technology rose on renewed rumors the company is a takeover target for private equity.

Flower Foods continued to move higher on speculation that it's a strong contender to buy some or all of Hostess Brands.

YY moved higher in its Wall Street debut. The Chinese social media company priced at $10.50, the low end of its expected range.

St. Jude Medical skidded to a 3-1/2 year low after Wells Fargo downgraded the stock to "market perform" and slashed its price target to $36 on concerns about its Durata defibrillator.

Best Buy fell after Wall Street analysts cut their price targets and lowered their expectations for a buyout plan by founder and former chairman Richard Schulze.

Sarepta Therapeutics moved higher following bullish comments from Piper Jaffray.

Zipcar gained ground after Avondale upgraded the stock to "market perform" from "underperform."

Vivus and Arena Pharmaceuticals move higher after circulation of a policy bulletin from Aerna that is being interpreted that Aetna will cover the weight reduction medicines.

Pharma Stocks

Symbol
Name
Price
 
Change
%Change
Volume
VVUS
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ARNA
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AET
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Tilly's fell after the specialty retailer posted weaker-than-expected quarterly sales and lowered its full-year guidance.

Thoratec rose after Wells Fargo upgraded the stock to "outperform" from "market perform."

MIPS Technologies rallied after the chip maker said it receive an unsolicited $75 million buyout proposal from Ceva .

(Read More: See 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's Senior 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.