Yahoo, Massey, Sprint, Dreamworks, McKesson are among big market movers Wednesday
By APWednesday, July 29, 2009
Yahoo, Massey, Sprint, Dreamworks are big movers
NEW YORK — Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and Nasdaq Stock Market:
NYSE:
Sprint Nextel Corp., down 54 cents at $4.05
The wireless provider said its second-quarter loss widened as more subscribers left, including those signing pricey yearly contracts.
Massey Energy Co., up $1.55 at $24.29
The coal producer is rehiring miners, saying demand from Asia is growing, after posting a better-than-expected profit on Tuesday.
Conseco Inc., up 68 cents at $2.58
The insurer expects a profit in the second quarter compared with a year-ago loss, due to much smaller losses from investments.
McKesson Corp., up $4.18 at $51.01
The drug distributor raised its guidance for the year above Wall Street expectations, and a R.W. Baird analyst upgraded the stock to “Buy.”
Aflac Inc., down $1.15 at $35.45
A Citi analyst downgraded the insurer to “Hold,” saying earnings growth will slow over the next three years as investment losses deepen.
Dreamworks Animation SKG Inc., up $2.45 at $31.13
The animated movie studio expects lower costs as it boosts movie production and is able to advertise at cheaper rates.
NASDAQ:
Yahoo Inc., down $2.08 at $15.14
After years of talks, the Internet company is forming a search partnership with Microsoft Corp. but without an upfront payment.
THQ Inc., down $1.60 at $6.81
The video game publisher expects sales to drop by more than a third in its current quarter due to the lack of new game releases scheduled.