Midday Movers: GM, JCP & More

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

General Motors traded higher after the U.S. Treasury announced plans to sell 200-million shares in the automaker and divest the rest of its holdings over the next 12 to 15 months.

JC Penney jumped after news that the retailer hired Brandon Tonniges from Abercrombie & Fitch.

Navistar moved lower after the commerical truck company reported a quarterly loss on lower military sales and higher tax expenses.

Lennar fell after government data showed housing starts were weaker-than-expected in November, down 3 percent. Shares of the homebuilder fell through its 30-day moving average of $39.67 per share.

Electronic Arts, Activison and Take Two Interactive fell amid concerns that video game makers could come under heavier scrutiny following the Newtown massacre.

Smith & Wesson and Sturm Ruger bounced after President Obama announced the creation of a task force for guns. The gunmakers had both been down more than 12 percent since last Friday.

—By CNBC's Lori Spechler

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