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Take a look at some of Wednesday's midday movers:
Barnes and Noble came off its lows after Chairman Leonard Riggio settled a shareholder lawsuit over the book retailer’s 2009 purchase of a college bookstore chain from Riggio and his wife, just days before it was to go to trial, according to a report from the Wall Street Journal. Riggio agreed to $29 million reduction in the $596 million purchase price.
Target announced it was increasing its quarterly dividend 20 percent to 36 cents a share. But shares reversed their initial gains in the final hour of trading along with the broader market.
Celgene jumped after the biotech company announced it would expand its buyback program by $2.5 billion. Celgene’s shares have fallen about 20 percent from their yearly high in April.
Oil stocks fell as oil prices continue to drop. ExxonMobil,Chevron,Schlumberger, and Valero all traded lower.
Regeneron Pharmaceuticals fell after privately held Ophthotech’s first clinical trial for macular degeneration showed statistical superior efficacy over Regeneron’s treatment. But Deutsche Bank says Ophthotech’s treatment will be a complement to Regeneron’s treatment, not a competitor.
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