Big Movers in the Stock Market
Sep. 23, 2003
NEW YORK (AP) _ Stocks that were moving substantially or trading heavily Tuesday on the New York Stock Exchange and Nasdaq Stock Market.
Lehman Brothers Holdings Inc., down 17 cents at $70.04
The brokerage reported third-quarter profits that handily beat Wall Street's estimates.
Morgan Stanley, down 23 cents at $50.92
The brokerage posted a doubling in quarterly profits, citing strong performance in investment banking and capital markets.
Verizon Communications Inc., down $1.41 at $33.30
The telecommunications company lowered its 2003 earnings outlook, citing weak business spending and falling demand.
The Cheesecake Factory Inc., up $1.67 at $37.96
J.P. Morgan upgraded the company's stock rating to ``neutral'' from ``underweight.''
Extreme Networks Inc., down 31 cents at $7.10
Merrill Lynch downgraded the company's stock rating to ``neutral from ``buy.''
Kindred Healthcare Inc., up $2 at $35.46
Jefferies & Co. upgraded the company's stock rating to ``buy'' from ``hold.''