Take a look at some of Thursday midday movers:
PepsiCo - Shares gained 0.5 percent after CNBC reported that activist investor Nelson Peltz had stepped up his fight to get the company to separate its snack and beverage units, saying he would take his case directly to shareholders.
EBay - The e-commerce company gained 2.6 percent after founder and Chairman Pierre Omidyar rejected investor Carl Icahn's contention that the company was not running in the best interests of shareholders. Icahn has called on eBay to to split off its fast growing PayPal unit.
EPL Oil & Gas - Shares of the energy company fell 6.7 percent after it reported weaker-than-expected quarterly results.
Ralph Lauren - The clothing brand declined 0.7 percent after Goldman Sachs upgraded the stock to buy from neutral.
Career Education - The for-profit educator jumped 14 percent after its fourth-quarter loss narrowed as it cut costs.
ITT Educational Services - Shares dropped for the second session after the Consumer Financial Protection Bureau filed a lawsuit against the for-profit educator related to its credit practices.
WPP - The advertising firm fell 3.5 percent after it lowered its 2014 profit outlook.
Cypress Semiconductor - The technology company slid 4.4 percent after Pacific Crest downgraded the stock to sector perform from outperform.
Care.com - The online marketplace for managing family care rose 3.9 percent, rebounding from its 15 percent decline on Wednesday, after JP Morgan upgraded its shares to outperform.
YRC Worldwide - The trucking company rose nearly 13 percent after it reported swinging to a to a profit in the fourth quarter.
Valeant Pharmaceuticals International - The Canadian drug developer rose 1.5 percent after reporting a fourth-quarter profit.
Ocwen Financial - The mortgage servicer gained 2.8 percent after reporting fourth quarter results.
Walter Investment Management - Shares dropped 9.8 percent after the provider of services to the residential mortgage industry reported weaker-than-expected fourth-quarter earnings.
Verizon Communications - The telecommunications company climbed 2.5 percent after Morgan Stanley resumed its overweight rating.
Catamaran - The pharmacy benefit manager declined 13 percent after projecting full-year profit below expectations.
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—By CNBC's Rich Fisherman.
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