Stocks dipped in midday trading Wednesday, ahead of the FOMC statement expected at 2pm eastern. The Dow is off its lows after dropping 100 points earlier in the session. FedEx (FDX) is falling more than 2% despite posting strong quarterly earnings. Investors are reacting to the shipping company’s soft guidance for the full-year. Pandora (P) is blasting higher after an upgrade. Analysts at CRT Capital are now rating it a BUY and raised their price target for the stock to $22 from $16 a share. After the markets close, there will be a new blue chip on the block. Apple (AAPL) will replace AT&T (T) in the Dow Jones industrial average.
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