A decline in commodity prices translated into a decline for the stock market Wednesday as the major indices settled in the red. The Dow lost 0.75%, the Nasdaq lost 0.59% and the S&P 500 lost 1.37%.
Here are some of Wednesday’s winners and losers.
Winners
Legg Mason Inc. (LM)
Shares of the company surged 3.8%, or 86 cents, to close at $23.27 on Wednesday after a Citi analyst upgraded it from "Sell" to "Hold".
Gilead Sciences Inc. (GILD)
After hitting a 52-week low of $35.60 on Monday, GLD shares surged on Monday, gaining 3.8% to close at $44.73.
McAfee Inc. (MFE)
The computer security-software company saw its shares leap 3.7%, or $1.44, on Wednesday to close at $40.57.
Starbucks Corp (SBUX)
In addition to completing its employee stock-option exchange program Wednesday, the coffee giant won the favor of an appeals court ruling in a case involving its tip-sharing practices. Starbucks shares jumped 3.2%, or 48 cents, to close at $15.30.
Cephalon Inc. (CEPH)
The international biopharmaceutical company got a 2.5% boost, with shares closing at $59.09 -- a gain of $1.46 on the day.
Losers
Valero Energy Corp. (VLO)
Valero suffered a 17.8% loss on Wednesday upon announcing its plans to raise $720 million through a share sale. VLO shares closed out the day at $18.40, a loss of $3.98.
Tesero Corp. (TSO)
The petroleum refiner and marketer ended up in the bottom Wednesday as its stock dropped 13.3%, or $2.33, to close at $15.17.
CIT Group Inc. (CIT)
The finance company fell 11.7%, or 40 cents, on Wednesday, closing at $3.01.
Gannett Co. Inc. (GCI)
The newspaper owner saw its shares fall 10.6% as ad revenue remains at a low. Gannett's stock fell 10.6% to close at $4.13 on Wednesday.
Massey Energy Co. (MEE)
The energy stock continued to drop, falling 8.3%, or $2.00 to close at $22.18.
