Big Movers in the Stock Market
NEW YORK (AP) _ Stocks that were moving substantially or trading heavily Tuesday on the New York Stock Exchange and Nasdaq Stock Market.
News Corp., up 77 cents at $28.17
Morgan Stanley upgraded the media company from ``neutral″ to ``strong buy,″ citing factors including expected reductions in its debt load and resolution of a sports rights dispute.
US Airways Group Inc., up 46 cents at $6.21
Lehman Brothers started the airline at a ``strong buy″ rating, saying its post-Sept. 11 structure will make it a strong performer as the economy rebounds.
Abercrombie & Fitch Co., down $1.22 at $27.30
Credit Suisse First Boston reduced its rating on the upscale, teen-age apparel company to ``hold″ from ``buy″ as part of a broader downgrade of the retail sector.
Cray Inc., down 42 cents at $1.95
The supercomputer company’s president and chief executive Michael P. Haydock resigned after disagreeing with the board of directors about how to turn the business around. Former president and CEO James E. Rottstolk has assumed his responsibilities.
Intel Corp., up $1.00 at $32.85
The chipmaker was upgraded by Morgan Stanley from ``outperform″ to ``strong buy″ on the belief that the personal computer market will expand this year.
Northwest Biotherapeutics, Inc., up $1.35 at $4.35
The biotechnology company said its new cancer drug has show favorable results in clinical trials.