Shares of Nokia Corp. (NYSE: NOK) slumped more than 3% on Wednesday after Samsung Electronics Co. declined to comment on market speculation that it could be preparing a bid for ailing Finland-based handset maker.
Abercrombie & Fitch Co. (NYSE: ANF) plunged more han 4% after the teen retailer said that rising costs will hurt profit margins in the second quarter.
Cabot Oil & Gas Corp. (NYSE: COG) surged more than 6% after Canaccord Genuity upgraded its rating on the company to Buy from Hold citing “significantly higher” expected output at Marcellus Shale fields.
Shares of Impax Laboratories Inc. (NASDAQ: IPXL) plummeted more than 12% after JPMorgan analyst Chris Schott downgraded the stock to "Neutral" from "Overweight," saying Impax won't launch many new generic products in the next 18 months. The company also recently disclosed a manufacturing problem that could put pressure on the company's stock. Schott also cut his price target to $26 per share from $28.
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