Midday movers: Coach, First Solar, Walgreen & more

A trader works on the floor of the New York Stock Exchange.
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A trader works on the floor of the New York Stock Exchange.

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

Coach - The luxury retailer declined after Sterne Agee & Leach downgraded its rating to neutral from buy.

Diamond Offshore Drilling - Shares fell after the provider of drilling services said Norway's Statoil had ended its contract with the company eight months ahead of schedule.

First Solar - The U.S.-based solar company rallied after the U.S. Department of Commerce said it was imposing initial anti-subsidy tariffs on Chinese solar panel makers, effective immediately.

General Motors - The auto manufacturer climbed after saying it would release the findings of an outside lawyer's probe into its bungled recall of small cars on Thursday morning.

MetLife - The life insurer advanced after the Senate approved legislation that gives Fed regulators more flexibility in applying capital rules to the largest life insurers. Shares of Prudential Financial also rose.

Newell Rubbermaid - The maker of home storage, markers and other consumer and commercial products gained after Morgan Stanley upgraded its shares to overweight from equal weight.

TIBCO Software - Shares fell after the provider of infrastructure and business intelligence software reported initial adjusted earnings for the second quarter that missed expectations.

Under Armour - The sportswear retailer rose after Jefferies Group upgraded its shares to buy from hold.

United States Steel - The company advanced after saying it would indefinitely idle two plants in Texas and Pennsylvania that produce pipe and tube for the oil and gas industries, citing illegally priced imports.

Walgreen - The drugstore chain climbed after reporting revenue from established stores rose 4.4 percent in May.

(Read More: See CNBC's Market Insider Blog)

—By CNBC's Kate Gibson

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