Walgreen, Sprint, Netflix are big movers

AP News
|
Posted: Mar 22, 2011 5:15 PM
Walgreen, Sprint, Netflix are big movers

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

NYSE

Walgreen Co., down $2.76 at $39.21

Prescription sales growth helped increase quarterly profit 10 percent, but analysts had expected even stronger results.

Bristol-Myers Squibb Co., up 29 cents at $26.29

The company's highly anticipated melanoma drug improved survival times when used as a first-line treatment against advanced skin cancer.

Sprint Nextel Corp., up 11 cents at $4.47

The wireless carrier's CEO said he was concerned that AT&T's $39 billion deal to buy T-Mobile USA would stifle innovation in the industry.

Carnival Corp., down $1.85 at 39.16

The cruise operator's outlook missed Wall Street forecasts because of higher fuel costs and weak demand for trips to the Middle East.

BJ's Wholesale Club Inc., up $2.32 at $48.84

Private equity firm Leonard Green & Partners LP is considering an offer to acquire warehouse club operator BJ's Wholesale Club Inc.

NASDAQ

Hot Topic Inc., up 13 cents at $5.28

The struggling teen clothing chain replaced its longtime CEO with Lisa Harper, the former head of kids gear retailer Gymboree Corp.

Netflix Inc., up $8.55 at $221.39

A Credit Suisse analyst upgraded the streaming video and DVD rental company and expects shares to rise 32 percent from current levels.

Expeditors International of Washington Inc., down $1.23 at $47.10

An RBC analyst cut his investment rating on the stock, saying the logistics company is unlikely to exceed profit expectations this year.