Big Movers in the Stock Market
Jul. 13, 2006
NEW YORK (AP) _ Stocks that were moving substantially or trading heavily Thursday on the New York Stock Exchange and Nasdaq Stock Market.
Warner Music Group Inc., down $5.23 at $24.53; Sony Corp. down $1.67 at $41.23
A European Union court overturned approval of a deal between Sony and Bertelsmann AG, which raised doubts about a possible deal with Warner and EMI Group PLC.
Jones Apparel Group Inc., down $1.77 at $29.49
Merrill Lynch lowered the women's apparel company to ``sell,'' citing diminished prospects for a sale and likelihood of weaker fundamentals.
Media General Inc., down $2.85 at $39.25
The newspaper and broadcasting company posted a 47 percent drop in second-quarter earnings after selling its stake in the Denver Post boosted year-ago results.
Cree Inc., down $4.86 at $17.73
The semiconductor product maker cut its guidance for the fourth quarter, prompting an analyst to downgrade the stock.
Tekelec, down $1.36 at $10.33
The maker of network switching systems fell to a first-quarter loss on sluggish sales and did not issue 2006 guidance.
Nastech Pharmaceutical Co., down $2.40 at $12.86
The drugmaker said the Food and Drug Administration did not approve its version of an osteoporosis nasal spray.