Midday movers: Apache, Hershey, Facebook & More
Take a look at some of Wednesday's midday movers:
Procter & Gamble moved higher. The company is selling its pet food business to Mars for $2.9 billion.
Hershey is melting. Goldman Sachs downgrading the stock to sell from neutral, saying its strong run is about to end.
Facebook climbed after Susquehanna and SunTrust recommended buying the stock after its recent decline.
Walter Energy, Arch Coal and Alpha Natural Resources all fell as UBS downgraded the coal producers to sell from neutral, citing lower commodity prices in the sector.
Constellation Brands lost ground despite reporting a fourth-quarter profit that nearly doubled. It did says it expects to face difficult comparisons in the second half of its fiscal year 2015.
Intuitive Surgical plummeted after the maker of robotic surgery systems said first-quarter revenue declined 24 percent. The company sold about half the amount of robots than it did in the same period a year ago.
La Quinta rebounded after opening lower in its Wall Street debut. The hotel chain priced 38.25 million shares at $17.
IKang Healthcare rose sharply in its Wall Street debut after pricing 11 million shares at $14. It is the largest provider in China's fast-growing private preventive health care services market.
Comcast and Time Warner Cable both rose. Comcast, which is the parent of CNBC, told senators its deal to buy its rival will be good for consumers and will result in no lost competition.
Halozyme Therapeutics slid after the FDA halted its pancreatic cancer study.
Apache fell after Deutsche Bank downgraded the energy company to hold from buy.
General Motors lost ground. Morgan Stanley cut the automaker to underweight from equal weight while cutting its price target to $33 from $49, saying the stock is trading near fair value.
LinkedIn moved higher after Topeka Capital upgraded the stock to buy from hold, citing an opportunity after its recent sell-off. The stock has lost 15 percent over the past month.
Biotechs Regeneron, Celgene, Alexion, Biogen Idec , and AbbVie all rebounded from their recent drop.
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—By CNBC's Rich Fisherman.
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