Sprint, Broadcom are big market movers

AP News
Posted: Oct 27, 2010 4:57 PM
Sprint, Broadcom are big market movers

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


Sprint Nextel Corp., down 47 cents at $4.30.

The third-largest wireless carrier in the U.S. reported its first quarterly revenue increase in three years. But its net loss widened compared with a year ago when a large tax benefit boosted results.

Martha Stewart Living Omnimedia, down 19 cents at $4.49.

The media and merchandising company narrowed its third-quarter loss as better merchandising and publishing revenue helped offset a decline in its broadcast division. But analysts predicted a smaller loss.

DeVry Inc., up $3.01 at $45.75.

The for-profit education provider reported a 34 percent jump in third-quarter profit, beating Wall Street expectations.

McKesson Corp., up $3.49 at $65.40.

The medical supply company reported higher fiscal second-quarter profit and sales, and said it would buy back $1 billion in stock.


Broadcom Corp., up $4.34 at $41.56.

The chip maker reported stronger-than-expected third-quarter results on higher sales of its wired and wireless communications technology.

Old Dominion Freight Line, up $1.92 at $27.94.

The trucking company said its third-quarter earnings more than doubled from a year earlier, as total shipments rose 14 percent.

Netgear Inc., up $3.47 at $31.75.

The maker of routers and other wireless products said net income jumped 54 percent as revenue soared on strong back-to-school sales and an increase in small-business spending.

F5 Networks Inc., up $15.04 at $117.58.

The networking gear maker posted better-than-expected fiscal fourth-quarter results and gave an upbeat outlook for the current period.