J.C. Penney, Dynegy, Nordstrom, Eli Lilly among big market movers Friday
By APFriday, August 13, 2010
J.C. Penney, Dynegy, Nordstrom big market movers
NEW YORK — Stocks that moved substantially or traded heavily Friday on the New York Stock Exchange and Nasdaq Stock Market:
NYSE
J.C. Penney Co., down 98 cents at $19.82
The department store posted a quarterly profit as it controlled inventory well, but cut its outlook for the year as sales slow.
Dynegy Inc., up $1.75 at $4.53
The power producer will be taken private by Blackstone Group for $542.7 million, or $4.7 billion including the assumption of debt.
Nordstrom Inc., down $2.39 at $31.05
The upscale department store maintained its guidance for the year, but analysts worried that inventory levels are rising.
Eli Lilly & Co., down 90 cents at $35.70
The drug maker cut its revenue guidance after it lost a patent lawsuit that increases the likelihood of generic competition.
RRI Energy Inc., up 22 cents at $3.59
Blackstone’s acquisition of Dynegy Inc. helped lift shares of other power providers such as RRI Energy.
NASDAQ
Unica Corp., up $11.29 at $20.84
Technology giant IBM Corp. plans to buy the marketing software company for $480 million, or $21 per share.
Rambus Inc., up 69 cents at $18.71
The company is giving the graphics chip maker Nvidia Corp. licenses to its technology in return for royalties.
PDL BioPharma Inc., down $1.02 at $5.18
PDL said collaborator Genentech is violating a previous royalty agreement between the companies and said it will try to have those patents enforced.
