Microsoft, Hershey, Arch Coal, Eastman Chemical are among big market movers Friday

Microsoft, Hershey, Arch Coal are big movers

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

NYSE:

Hershey Co., down 83 cents at $40.97

An analyst upgraded the candy maker on renewed advertising and sales efforts, while another analyst downgraded it on its stock price.

Arch Coal Inc., up $1.27 at $18.14

Arch Coal slumped to a second-quarter loss much larger than expected, citing a 20 percent drop in sales and production cutbacks.

Schlumberger Ltd., down 43 cents at $57.34

The oil and gas producer’s second-quarter earnings tumbled 57 percent as it offered an uncertain outlook for the rest of 2009 and beyond.

Capital One Financial Corp., up $2.24 at $30.07

Analysts raised their estimates a day after the credit card issuer posted second-quarter results ahead of Wall Street expectations.

Eastman Chemical Co., up $2.88 at $48.06

The company, which makes coatings and specialty plastics, reported second-quarter earnings that beat analyst expectations.

NASDAQ:

Microsoft Corp., down $2.11 at $23.45

Microsoft will offer computer users a choice of Web browsers after the European Commission charged the company with monopoly abuse.

Palm Inc., up 31 cents at $14.47

A software update to Palm’s Pre phone allows it to again connect to Apple’s iTunes software, just a week after Apple Inc. shut it out.

Broadcom Corp., down $1.98 at $27.20

Analysts said the chip maker’s second-quarter results showed disappointing sales in its most-profitable unit and weak profit margins.