Macy’s, Disney, Kelly Services, Computer Sciences among big market movers WednesdayBy AP
Wednesday, August 11, 2010
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:
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.
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.
Tags: Business And Professional Services, Earnings, New York, North America, United States