Morgan Stanley, Ford, Yahoo, AirTran, Wynn Resorts are big market movers Wednesday

By Angsuman Chakraborty, Gaea News Network
Wednesday, April 22, 2009

share marketMorgan Stanley, Ford, Yahoo, AirTran big movers

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


Morgan Stanley, down $2.21 at $22.44

The investment bank’s $578 million loss disappointed investors and stood in contrast to other big banks’ better-than-expected results.

Ingersoll Rand Co., up $2.62 at $19.35

A first-quarter loss was better than analysts had expected from the diversified manufacturer, and guidance for 2009 pleased investors.

Continental Airlines Inc., down $1.40 at $13.60

Revenue fell as traffic slid and business travelers switched from booking first-class to cheaper coach, driving the airline to a loss.

Ford Motor Co., up 48 cents at $4.28

A Goldman Sachs analyst named the auto maker a top stock pick, saying bankruptcy was unlikely and it is better off than competitors.

AirTran Holdings Inc., up $1.35 at $6.93

The discount airline was one of the only major carriers to post a profit last quarter, thanks in part to less overseas exposure.


Yahoo Inc., up 10 cents at $14.48

The Internet company said it would cut nearly 700 jobs, and investors hope new negotiations on a deal with Microsoft Corp. are coming.

Wynn Resorts Ltd., up $2.97 at $34.56

A new debt arrangement gives the casino operator several more years to pay back some of its $4.5 billion debt load.

P.F. Chang’s China Bistro Inc., up $5.54 at $32.54

The restaurant chain expects sales to keep on dropping, but still hiked its profit guidance for the year above analysts’ expectations.

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