Best Buy, Wells Fargo, Qwest are big movers

AP News
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Posted: Dec 15, 2009 5:27 PM

The following stocks were among those that moved substantially or traded heavily Tuesday on the New York Stock Exchange and the Nasdaq Stock Market:

NYSE:

Best Buy Co., down $3.84 at $41.53

The electronics retailer said its earnings more than quadrupled, but predicted profit margins will be squeezed next quarter.

Wells Fargo & Co., up 17 cents at $25.66

Wells Fargo will sell stock for $25 per share to help repay $25 billion in government bailout money.

Weyerhaeuser Co., up 60 cents at $43.11

The forest products giant's board approved a conversion of the company into a real estate investment trust for certain tax benefits.

Qwest Communications International Inc., up 18 cents at $4.26

The phone company was upgraded by an analyst who cited the stock's attractive value and expectations for improving revenue.

Steak n Shake Co., up $1.31 at $13.11

The operator of casual dining restaurants reported a fiscal fourth-quarter profit on higher sales.

NASDAQ:

JA Solar Holdings Co. Ltd., up 46 cents at $5.76

The China-based solar cell maker said it plans to buy back up to $75 million of its American Depositary shares.

Array BioPharma Inc., up 53 cents at $2.78

The company struck a development deal with Amgen Inc. worth $60 million upfront for a potential type 2 diabetes treatment.

SunPower Corp., up 93 cents at $24.12

The company told investors its continuing internal investigation into accounting irregularities has showed no new problems.