Midday Movers: AAPL, MMR & More

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

Apple took a hit after Cor Clearing said it is raising the margin requirement for the tech giant to 60 percent.

McMoRan Exploration and Plains Exploration soared after being bought for a combined $9 billion by Freeport-McMoRan Copper & Gold for $9 billion in cash and stock. Freeport paying $50 a share for Plains and $14.75 a share for McMoRan.

Citigroup moved higher after the banking giant said it will eliminate 11,000 jobs, or 4 percent of its workforce and take a $1 billion charge to pay for it.

Netflix fell after saying it doesn't plan on raising prices after its deal with Disney.

SuperValu moved higher on speculation Cerebus would buy two of its units.

Homex fell after the Mexican homebuilder issued a revenue warning for next year.

Canadian Pacific Railway gained ground after it said it would eliminate 4,500 jobs by 2016.

Fossil rose after its board authorized a $1 billion stock buyback program.

Oxford Industries plummeted after the apparel company issued a fourth-quarter earnings warning.

Mitcham Industries fell after it reported a third-qurater loss on lower revenue.

Starbucks lost ground after it said it would not walk away from buying tea retailer Teavana.

Ocwen Financial slid as New York financial regulator Ben Lawsky wants a monitor to oversee the mortgage servicer's operations as a condition of clearing two proposed acquisitions.

VeriFone Systems moved higher after UBS upgraded the electronic payments company to "buy" from "neutral," saying worries over its competition was overdone.

Toro fell after its fourth-quarter earnings dropped 95 percent on weak sales. It also said 2013 results would come in below expectations.

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

—By CNBC's Rich Fisherman.

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