Gainers:
Procter & Gamble Co. (PG) is gaining over 3 percent to $81.38. The company announced that Alan George Lafley has rejoined the company as its President and chief executive succeeding Robert McDonald. Lafley has also been elected to the board and will serve as its Chairman. Lafley has served as the company's President and chief executive from 2000 to 2009.
Pandora Media, Inc. (P) is gaining 12 percent to $19.20 and Marvell Technology Group Ltd. (MRVL) is up 5 percent to $11.90 after the release of their quarterly results.
Decliners:
Abercrombie & Fitch Co. (ANF) is sliding 10 percent to $48.80. The company's first quarter loss narrowed from the year-ago quarter, but missed Wall Street view. Net sales for the quarter decreased 9 percent and missed the consensus estimate. The company also lowered its earnings per share guidance for fiscal 2013.
AVEO Pharmaceuticals, Inc. (AVEO) is down 15 percent to $2.28. The company disclosed that Astellas Pharma Inc. no longer intends to submit a Marketing Authorization Application to the European Medicines Agency for tivozanib for the treatment of patients with advanced renal cell carcinoma. Astellas also informed AVEO that it does not intend to fund any future trial in RCC under its strategic collaboration.
Sears Holdings Corp. (SHLD) is plunging 14 percent to $49.67 following the release of its quarterly results.
Titan Machinery, Inc. (TITN) is down 12 percent to $19.80 based on the news that it expects a loss for the first quarter, as revenues came in less than expected amid late spring weather and challenging conditions in the construction industry. The company also lowered its profit forecast for the year.
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