Big Movers in the Stock Market
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NEW YORK (AP) _ Stocks that were moving substantially or trading heavily Friday on the New York Stock Exchange and Nasdaq Stock Market.
General Electric Co., down 40 cents at $26.45
Shares fell a day after the diversified company said it plans to revitalize its reinsurance unit, resulting in a 8.5 percent drop from its earlier earnings forecasts.
American Tower Corp., up 65 cents at $3.55
Raymond James raised its stock rating of the management firm to strong buy from outperform.
ShopKo Stores Inc., up $1.43 at $16.06
Merrill Lynch raised its stock rating of the discount store to neutral from sell.
Brocade Communications Systems Inc., down $2 at $5.28
Several brokerage firms downgraded the data storage networking company’s stock after Brocade warned of lower-than-expected first-quarter revenue.
Nvidia Corp., down 42 cents at $15.72
UBS Warburg cut the computer networking company’s stock rating to reduce from hold.
Research in Motion Limited, down $1.10 at $14.05
A federal jury in Virginia found that the maker of the BlackBerry wireless handheld infringed on patents held by NTP Inc.