Stocks to Watch: Abbott Labs, Winn-Dixie, Textron and More...
Stocks struggled for direction at the open Wednesday, after a sharp rally in the previous session, as materials and consumer staples put pressure on the market despite hopes that U.S. lawmakers will reach a deal to raise the debt ceiling and a handful of strong earnings results.
The Dow Jones Industrial Average bobbed in and out of positive territory, after ending sharply higher in the previous session.
Here are six stocks that are on the move:
Abbott Labs
The pharmaceutical company reported a higher than expected second quarter profit fueled by strong sales growth in emerging markets and demand for its arthritis drug.
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St. Jude Medical
The medical device maker posted a lower second quarter profit on restructuring related charges, but did see sales growth.
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Winn-Dixie
The supermarket was upgraded to buy from hold at Jefferies.
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Johnson Controls
The auto parts supplier’s third quarter profit dropped 15 percent, but still posted double digit growth on its top line.
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Intuitive Surgical
The medical equipment company was upgraded to neutral from sell at Goldman Sachs while raising the price target to $370 from $282.
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Textron
The aircraft, defense, industrial and finance firm posted a higher than expected second quarter profit, helped by cost cutting at its helicopter and industrial units.
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