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.
Pep Boys, down 50 cents at $5.25
The car parts retailer announced second-quarter earnings of 7 cents a share, well below Wall Street analysts’ estimates of 30 cents.
Kellwood Co., down 81.20 cents at $16.688
The clothing manufacturer said second-quarter earnings will fall below analysts expectations due to flat sales.
Philip Morris, up $2.625 at $31.25
A Goldman Sachs analyst said shares of the tobacco and food conglomerate could rise 50 percen to 60 percent this year.
Dell Computer, down $4.062 at $37.688
The computer retailer reported second-quarter earnings per share of 22 cents, beating analysts’ expectations by a penny. But revenues fell below projected figures.
Adaptive Broadband, down $7.625 at $23.125
The company posted a fiscal fourth-quarter loss of 20 cents a share from continuing operations, wider than analysts’ expectations of 17 cents. In addition, an analyst at CIBC World Markets downgraded the company’s stock to hold from strong buy.
Verio, up $1.562 at $58.75
The FBI has resolved U.S. national security concerns over Nippon Telegraph and Telephone Corp.’s planned $5.5 billion acquisition of Verio.