Bank of America, Apollo, Zagg big market movers

AP News
|
Posted: Oct 14, 2010 5:19 PM
Bank of America, Apollo, Zagg big market movers

Stocks that moved substantially or traded heavily Thursday on the New York Stock Exchange and Nasdaq Stock Market:

NYSE

Bank of America Corp. down $5.19 at $12.60

The bank's shares fell along with other financial stocks as investors weighed mortgage problems that could cost big banks billions.

H&R Block Inc. down $1.38 at $12.31

In a move to bolster its lagging digital business, the tax preparation company said it will buy TaxAct software creator 2SS Holdings Inc. for $287.5 million in cash.

Wendy's/Arby's Group, up 29 cents at $4.78

Investors speculated that the company that runs Wendy's and Arby's restaurants is a takeover target.

NASDAQ

Yahoo Inc., up 68 cents at $15.93

Investors bid up shares of the Internet search company following a report that AOL Inc. and a group of private equity firms may try to buy the company.

Apollo Group Inc., down $11.50 at $38

The owner of the University of Phoenix warned that student enrollment is likely to decline as its business changes to accommodate proposed regulations from the government.

Charming Shoppes Inc., down 94 cents at $3.41

The retailer that owns plus-size clothing chain Lane Bryant recorded a surprise second-quarter loss as sales fell, costs climbed and it was forced to mark down its merchandise to clear inventory.

Zagg Inc., up $2.17 at $7.29

The maker of accessories for cell phones and other mobile gadgets said it expects third-quarter sales above Wall Street forecasts because of surprisingly brisk sales of new mobile devices

Hain Celestial Group Inc., up 90 cents at $24.87.

A UBS analyst said the natural foods company should make more money as more people choose to eat organic food.