Big Movers in the Stock Market
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NEW YORK (AP) _ Stocks that were moving substantially or trading heavily Wednesday on the New York Stock Exchange and Nasdaq Stock Market.
El Paso Corp., down $8.26 at $27.01
The energy company said it is reducing its energy trading business. The sector has come under intense scrutiny for possible sham trades.
Halliburton Co., down 63 cents at $18.72
The Securities and Exchange Commission is investigating the oilfield service company’s accounting of cost overruns on construction jobs.
Nortel Networks Corp., down 17 cents at $2.35
The telephone equipment maker announced another 3,500 job cuts and is considering selling its optical components business to save money.
Starbucks Corp., up 89 cents at $23.00
Merrill Lynch upgraded the upscale coffeehouse chain, citing growth potential ahead.
Novellus Corp., down $3.27 at $43.40
The semiconductor equipment maker increased its second-quarter forecast but failed to indicate the improvement will carryover to the rest of the year.
SignalSoft Corp., up $1.16 at $2.22; Openwave Systems Inc., down 25 cents at $6.14
SignalSoft is being acquired by Openwave for about $17.5 million. Both companies make software and other products used in the telecommunications industry.