GE, Seagate, JPMorgan, Google big market movers

AP News
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Posted: Oct 15, 2010 4:45 PM
GE, Seagate, JPMorgan, Google big market movers

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

NYSE

General Electric Co., down 86 cents at $16.30

The conglomerate's quarterly net income fell 18 percent because a Japanese unit needed more cash reserves and equipment sales fell.

Seagate Technology, up $2.82 at $15.51

The disk drive and storage maker said it was in discussions with an unnamed party that is interested in taking it private.

Gannett Co., down $1.24 at $12.85

The media company's quarterly profit rose 37 percent because online and TV ads grew, but newspaper ad revenue continued to drop.

JPMorgan Chase & Co., down $1.57 at $37.15

The financial services giant's shares sold off with another bank stocks because of fears about the unlawful foreclosure mess hitting the bank's balance sheet.

NASDAQ

Google Inc., up $60.52 at $601.45

The Internet search leader's quarterly income jumped 32 percent as it invests in display ads, mobile ads and other areas outside search.

Yahoo Inc., up 32 cents at $16.25

Media reports that AOL is in talks with buyout shops to make a joint bid for the Internet company continued to boost shares.

Mattel Inc., down $1.55 at $22.45

The toy maker's quarterly profit rose 23 percent, but its revenue growth fell short of analyst expectations.

Whole Foods Market Inc., up $1.24 at $38.30

A Jefferies analyst upgraded the upscale grocer, saying quarterly results could be better than expected because of a pick-up in sales.