11 Intraday Movers and Shakers

Recent news from China presents "buy the rumor, sell the news" potential for SNE

   

The following are some of today’s most notable movers of interest, categorized by market capitalization (large cap over $10 billion and mid cap between $2-$10 billion) and ranked by percent change (all stocks over 100,000 average daily volume).

Large Cap Gainers

  • Hess Corp. (NYSE:HES) $61.51 – $63.76, +5.38%: As part of this energy company’s shift to  exploration and production, Hess is selling its New Jersey terminal network and exiting the refining business.
  • Sony Corporation (NYSE:SNE) $14.83 – $15.49, +4.09%): According to the China Daily newspaper, China may lift its ban on video game consoles. Video game stocks have surged, and analysts at Citigroup upgraded SNE to Buy from Neutral.
  • Biogen Idec (NASDAQ:BIIB) $147.77 – $156.94, +3.24%: BIIB released earnings today. Results were mostly positive with a 6.9% increase in revenues and an estimate for 10% revenue growth in FY13, though the company did miss quarterly EPS by 6 cents.

Large Cap Losers

  • Southern Copper Corp (NYSE:SCCO) $39.61 – $40.25, -3.68%: SCCO was downgraded at BB&T Capital Markets to Hold from Underweight.
  • PPG Industries, Inc. (NYSE:PPG) $137.17 – $141.75, -3.14%: PPG finalized the merger of their commodity chemicals unit, Eagle Spinco, with Gulf Corporation (NYSE:GGC) today.
  • Bed Bath & Beyond Inc. (NASDAQ:BBBY) $57.22 – $58.48, -2.40%: Downgraded to Sell from Neutral at Goldman Sachs

Mid Cap Gainers

  • Youku Tudou Inc (NYSE:YOKU) $23.33 – $25.24, +4.90%: Initiated with a Buy at Deutsche Bank
  • Aruba Networks, Inc. (NASDAQ:ARUN) $23.16 – $24.05, +4.24%: Upgraded to Buy from Hold at Craig Hallum
  • The Western Union Company (NYSE:WU) $13.67 – $14.10, +3.75%: Initiated with a Buy at Standpoint Research

Mid Cap Losers

  • PetSmart (NASDAQ:PETM) $63.43 – $68.23, -8.46%: Downgraded to Reduce from Neutral at Nomura
  • Research in Motion (NASDAQ:RIMM) $16.17 – $17.89, -7.30%: Cautiously mentioned at OTR Global Research and RBC Capital Markets ahead of the Jan. 30 launch of BB10 operating system and devices

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