Stocks to Watch: AAPL, FB, CHK & More 

Take a look at some of Wednesday’s morning movers:


Apple - The company is expected to unveil the iPhone 5 at a media event scheduled to begin at 1 p.m. ET. (Read More: Jon Najarian Trades Apple's iPhone 5 Hype.)

Facebook - CEO Mark Zuckerberg gave his first post-IPO interview late Tuesday, saying the stock’s drop has been disappointing but he remains very optimistic about the company’s future.

Chesapeake Energy - The energy producer has sold a variety of assets to multiple buyers, including Chevron and Shell, for a total of $6.9 billion.

Gap - The retailer has hired former J.C. Penney president and Target chief marketing officer Michael Francis as a marketing creative advisor. He’ll spend about two weeks per month working out of Gap’s offices.

Moody's - The credit rating agency has raised its full-year earnings guidance to $2.70 to $2.80 per share, excluding certain items, compared to Street estimates of $2.72 and its prior forecast of $2.62 to $2.72.

Texas Instruments - The chipmaker has raised the lower end of its third-quarter earnings forecast. It now sees third quarter profit of $0.38 to $0.42, compared to the prior range of $0.34 to $0.52 and analysts' estimates of $0.45. The company said the change is largely related to an insurance payment stemming from last year’s Japan earthquake, and noted that demand is actually tracking a bit weaker than it had anticipated.

PepsiCo - President John Compton has left the company after less than a year in that job, with PepsiCo Europe CEO Zein Abdalla named to replace him. Some industry watchers see this as an indication CEO Indra Nooyi plans to remain in that job for years to come.

Ford Motor - The automaker will discuss the issue of CEO succession at its board meeting on Thursday. Our Phil LeBeau reports that Americas president Mark Fields may be promoted to chief operating officer, although it’s unclear whether that action will be taken at this meeting. (Read More: Toyota Camry Surges Past Ford F-150 to US Top Spot.)

Xyratex - Xyratex has lowered its third-quarter revenue outlook, because of reduced demand from its largest customers. Xyratex is a provider of data storage technology.

Steel Dynamics - The company said its third-quarter earnings will be short of analyst estimates, because of falling steel shipment levels. The steel producer now sees earnings per share of $0.09 to $0.14, excluding certain items, compared to analysts' estimates of $0.19.

Sirius XM Radio - The satellite radio operator is closer to being controlled by John Malone’s Liberty Media, with Liberty upping its stake to 49.2 percent from 48.8 percent.

Google - Bernstein has increased its price target for the stock to $850 from $727, because of the growth path of Google's search business, and increased contributions from the mobile segment.

Amgen - Baird has downgraded the biotech company's stock to "neutral" from "outperform" on a valuation basis, with the stock having jumped more than 75 percent over the past year.

RF Micro Devices - Stern Agee said the chipmaker may be a vendor whose chips haven't been in prior iPhones, but may be in the new phone expected to be unveiled today.

—By CNBC’s Peter Schacknow

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