Salesforce.com, Gap, Corinthian Colleges, Intuit among companies making big market moves
By APFriday, August 20, 2010
Salesforce.com, Gap, Corinthian big market movers
NEW YORK — Stocks that moved substantially or traded heavily Friday on the New York Stock Exchange and Nasdaq Stock Market:
NYSE
Salesforce.com Inc., up $16.34 at $112.75
Quarterly net income dropped because of higher expenses, but the online business software maker raised its profit and revenue outlook.
Gap Inc., down 39 cents to $17.32
The clothing retailer said it was disappointed quarterly revenue had not grown more, and analysts worried about growth prospects.
NASDAQ
Marvell Technology Group Ltd., up $1.25 at $16.16
The chip maker will buy back up to $500 million of its shares after its quarterly profit nearly quadrupled and revenue rose 40 percent.
Corinthian Colleges Inc., down 91 cents at $4.49
The for-profit school posted a weak guidance and said its student loan default rates were rising, jeopardizing its access to federal financial aid.
Intuit Inc., up $5.83 at $44.60
The finance software maker forecast yearly results that beat Wall Street expectations and announced a $2 billion stock buyback plan.
Kirkland’s Inc., down $4.08 at $12.15
The home retailer’s quarterly profit slipped as shoppers bought more discounted goods, and it cut its revenue outlook for the year.
Canadian Solar Inc., down 74 cents at $11.78
The solar cell maker’s quarterly profit fell short of Wall Street expectations, and two U.S. executives are resigning.
Research in Motion Inc., down $1.74 at $48.72
A Morgan Stanley analyst downgraded the handset maker’s stock on worries about possible bans in Asia and the Middle East.
