Today's Market Winners and Losers
The stock market was mixed Wednesday, with the Dow Jones Industrial Average up 0.35%, the Nasdaq up 0.29% and the S&P 500 down 0.14%. Today's winners include a pharmaceutical company getting bought and a semiconductor company reporting better than expected earnings. Today's losers include a luxury goods maker and retailer that reported lower-than-expected earnings and a miner that warned of lower revenue for the first half of 2013.
These are Wednesday's market winners and losers.
Shares of MAP Pharmaceuticals Inc. (NASDAQ: MAPP) are up 58.47% to $24.69 on trading volume of 32.7 million shares. Allergan Inc. (NYSE: AGN) will buy the pharmaceutical company for $25 a share, coming out to $958 million. Before Wednesday, the 52-week high was $17.92.
Shares of Advanced Micro Devices Inc. (NYSE: AMD) are up 8.78% to $2.67 on trading volume of 22 million shares. Excluding one-time charges, the semiconductor company lost $0.14 a share in the fourth-quarter, better than the $0.20 per share predicted by Wall St. analysts polled by Reuters . The 52-week high is $8.35.
Shares of Coach Inc. (NYSE: COH) are down 14.44% to $51.92 on trading volume of 24.4 million shares. The company reported second-quarter earnings of $1.23 a share, below the $1.28 a share Wall St. analysts predicted. The 52-week low is $48.24.
Shares of Molycorp Inc. (NYSE: MCP) are down 7.64% to $8.15 on trading volume of 7.1 million shares. The miner warned that revenue and cash flow for the first half of 2013 would be much lower than initially expected. The 52-week low is $5.75.
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Filed under: 24/7 Wall St. Wire Tagged: AGN, AMD, COH, MAPP, MCP