CIT Group, Chevron, AIG, Shaw Group, Yahoo are among big market movers Friday

CIT Group, Chevron, AIG are big movers

NEW YORK — Stocks that moved substantially or traded heavily Friday on the New York Stock Exchange and Nasdaq Stock Market:

NYSE:

CIT Group Inc., down 33 cents at $1.53

Analysts said the commercial lender is facing a liquidity crisis if the government chooses not to give federal backing for its bonds.

Chevron Corp., down $1.68 at $61.40

The oil company said its second quarter results will likely be much lower than last year as refining margins tumbled in the U.S.

Kennametal Inc., up $1.68 at $17.43

The maker of industrial and construction equipment will likely increase production, an analyst said, upgrading it to “Buy.”

Shaw Group Inc., down $2.47 at $23.69

Higher costs sunk profit at the engineering and construction company, which also cut its profit guidance for the year.

American International Group Inc., up $2.26 at $11.74

The insurer took back some of this week’s steep stock declines amid reports of consultations with the government on bonuses.

Suntech Power Holdings Co. Ltd., down $1.28 at $14.35

Shares of the Chinese solar module maker continued their weeklong decline after saying it would use all of a $50 million loan facility.

NASDAQ

Infosys Technologies Ltd., up $1.46 at $35.95

The Indian outsourcing firm warned investors that sales would fall sharply as clients worldwide cut back sharply on spending.

Yahoo Inc., up 38 cents at $14.93

The Internet-search company is making changes that should help it become more competitive and efficient, an analyst said.