Citigroup, Rite Aid, FedEx are big movers

AP News
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Posted: Dec 17, 2009 5:11 PM

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

NYSE:

Citigroup Inc., down 25 cents at $3.20

The bank priced a 5.4 billion stock offering at a nearly 9 percent discount in order to repay bailout aid.

Rite Aid Corp., up 17 cents at $1.50

A narrower quarterly loss thanks to cut costs helped boost the drug store's stock, even though its sales decline continued.

Hovnanian Enterprises Inc., down 27 cents at $3.96

The homebuilder posted its 13th straight quarterly loss as sales dropped and the value of its land declined.

FedEx Corp., down $5.48 at $84.47

The package delivery company said it was uncertain about shipping demand for the current quarter after the end of the holiday season.

Discover Financial Services, down $1.50 at $14.92

The credit-card lender said its net income fell as losses on credit cards rose amid high unemployment.

Cedar Fair LP, up $2.12 at $11.20

Asset manager Apollo Global Management is buying the amusement park operator for about $635 million in cash.

Winnebago Industries Inc., up $2.39 at $13.29

The recreation vehicle maker said its quarterly loss narrowed, sales rose and its order backlog more than quadrupled.

NASDAQ:

A123 Systems Inc., up $1.08 at $19.40

The company is planning a joint venture in China with a General Motors co. partner to supply batteries for electric and hybrid autos.