Big Movers in the Stock Market
NEW YORK (AP) _ Stocks that were moving substantially or trading heavily Wednesday on the New York Stock Exchange and Nasdaq Stock Market.
Pioneer Natural Resources Co., down 22 cents at $23.20
The oil and gas exploration company reported second-quarter earnings of 65 cents a share, missing Wall Street’s estimate by 4 cents.
ConocoPhillips, up 55 cents at $52.50
The oil company posted second-quarter profits of $1.58 a share, well ahead of the $1.43 analysts were predicting.
CVS Corp., up $1.35 at $29.10
Drug store company CVS reported second-quarter earnings of 49 cents a share, beating analysts’ estimate by a penny.
Midway Games Inc., down 92 cents at $2.47
Wedbush Morgan downgraded Midway, a video game marketer, to ``hold″ from ``buy.″
Genesis Microchip Inc., down $3.10 at $10.65
Pacific Growth Equities downgraded Genesis Microchip to ``equal-weight″ from ``overweight.″
Pinnacle Systems Inc., down $4.36 at $8.13
J.P. Morgan lowered its rating on Pinnacle Systems to ``neutral″ from ``overweight,″ while US Bancorp Piper Jaffray downgraded it to ``market perform″ from ``outperform.″ The company makes professional-quality tools for video editing.