Macy’s, Disney, Kelly Services, Computer Sciences among big market movers Wednesday

Macy’s, Disney, Kelly Services big market movers

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

NYSE

Macy’s Inc., up $1.14 at $20.52

Macy’s net income surged in the second quarter as the department store chain saw a payoff from its focus on exclusive moderate-price fashions and tailoring merchandise to local markets.

CareFusion Corp., up $1.86 at $23.26

The medical products maker reported stronger-than-expected quarterly earnings, and said it will save $120 million a year by cutting 700 jobs.

Gap Inc., down 38 cents at $17.87

An analyst downgraded the company, saying the retailer’s product offerings are not resonating with consumers.

Walt Disney Co., down $1.07 at $34.22

The company’s quarterly net income jumped 40 percent thanks to a boost from ESPN and a turnaround at its movie studio because of “Toy Story 3.”

Computer Sciences Corp., down $2.56 at $43.88

The information technology outsourcing company reported a 9 percent jump in quarterly earnings as demand in some parts of the business picked up.

Equity Residential, down $1.65 at $45.43

An analyst downgraded his rating on the company to “Hold” from “Buy” and said he doesn’t see much upside to the stock from where it’s currently trading.

NASDAQ

Cree Inc., down $9.15 at $59.81

The company, which produces materials for LED lighting products, issued a disappointing sales forecast for the current quarter.

Kelly Services Inc., down $1.06 at $13.04

The staffing agency reported a better-than-expected profit in the second quarter as employment picked up around the globe and the company was able to place more temporary workers.