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.
Motorola Inc., down $1.88 at $21.19
US Bancorp Piper Jaffray reduced earnings estimates for the wireless communications and semiconductor manufacturer, citing reduced revenues.
Wal-Mart Stores Inc., down $2.25 at $53.94
Bear Stearns reduced its earnings estimates for the discount retailer because of softer-than-expected sales.
Gannett Co., down $2 at $65.31
The media company was downgraded by Merrill Lynch to ``neutral″ from ``accumulate,″ citing concerns related to the slowing economy.
Delano Technology Corp., down $2.38 at $2.38
The software company said its quarterly results will be weaker than expected because of soft market demand.
Insmed Inc., up $1.88 at $6.13
The pharmaceutical company said tests show its new drug combination appears to show positive results for diabetes patients.
eToys Inc., unchanged at 15.6 cents
The online toy retailer plans to lay off 700 employees and close its European operations. The company has said it may run out of cash by March.