Big Movers in the Stock Market
NEW YORK (AP) _ Stocks that were moving substantially or trading heavily Friday on the New York Stock Exchange and Nasdaq Stock Market.
Texas Instruments, down $2.14 at $32.66
A revenue warning by Intel late Thursday drove down the technology sector, including competitor Texas Instruments.
General Motors Corp., up 55 cents at $59
The automaker plans to idle two North American assembly plants next week, briefly laying off 4,900 workers. GM is trying to reduce vehicle inventories amid soft sales.
Bank One Corp., down 84 cents at $36.05
Prudential Securities on Friday reduced its ratings on nine financial stocks, including Bank One. Prudential now has a ``sell″ rating on those stocks.
Intel Corp., down $3.69 at $29.56
The chip maker issued a first-quarter revenue warning after the market closed Thursday. Intel also said it will cut 5,000 jobs, largely through attrition.
Microsoft, down $2.88 at $56.38
Several technology stocks, including Microsoft, suffered from Intel’s sales warning and from downgrades of their own shares by analysts. Merrill Lynch reduced its rating on Microsoft’s stock.
Actel Corp., down $2.06 at $19.81
Actel, which makes networking software and hardware, lowered its first-quarter earnings estimate. The company cited slumping demand for the shortfall.