General Motors, Yahoo, Tiffany, Time Warner Cable among big market movers Friday
By APFriday, May 29, 2009
General Motors, Yahoo, Tiffany are big movers
NEW YORK — Stocks that moved substantially or traded heavily Friday on the New York Stock Exchange and Nasdaq Stock Market:
NYSE
General Motors Corp., down 37 cents to 75 cents
The UAW union approved a cost-cutting pact with the automaker, but a filing for bankruptcy protection was still expected by Monday.
J. Crew Group Inc., up $5.40 at $25.86
The apparel retailer’s strong first-quarter results, including higher sales and customer traffic, signaled a rebound from a tough 2008.
Yamana Gold Inc., up 63 cents at $11.77
Gold prices surged, hitting three-month highs above $975 an ounce, which boosted the gold, silver and copper exploration company.
Office Depot Inc., up 28 cents at $4.66
The office supply chain was upgraded due to strong liquidity and a likely profit boost from store closings and cost-cutting measures.
Time Warner Cable Inc., down 94 cents at $30.79
At an investor conference, the cable operator’s CEO said growth had slowed from last quarter’s pick-up as the housing slump continued.
Tiffany & Co., up 24 cents at $28.37
First-quarter profit at the jewelry retailer fell 62 percent from last year, but the company maintained it earnings outlook for the year.
NASDAQ
Wet Seal Inc., down 53 cents at $3.15
The women’s apparel retailer, hard-hit by weak consumer spending and inventory issues, said same-store sales would drop further.
Yahoo Inc., up 75 cents at $15.84
An analyst said the Web portal company was doing well, and could be a good investment apart from a possible link-up with Microsoft Corp.
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