Bank of America, Cree, Xoma are big movers

AP News
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Posted: Mar 23, 2011 4:48 PM
Bank of America, Cree, Xoma are big movers

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

NYSE

Bank of America Corp., down 23 cents at $13.65

The Federal Reserve rejected a plan by the nation's largest bank to raise its dividend in the second half of the year.

Jabil Circuit Inc., up $2.06 at $20.99

Second-quarter profit at the electronic parts maker grew 86 percent, and it issued a third-quarter forecast that topped estimates.

Discover Financial Services, up $1.19 at $23.44

The credit card company said higher card use and fewer unpaid balances helped it post better-than-expected first-quarter profit.

Omeros Corp., up 64 cents at $6.69

The biotechnology company said its eye surgery drug candidate met key goals in a midstage study.

Nasdaq

Xoma Ltd., down $1.50 at $3.52

A potential diabetes treatment by the biopharmaceutical company failed to lower blood sugar in a clinical trial.

Pozen Inc., up 18 cents at $4.93

The drug developer announced a deal with a Johnson & Johnson division to make and sell its migraine drug in South America.

Cintas Corp., up $1.61 at $29.75

An analyst said the uniform maker could continue to see its revenue increase despite rising energy and cotton costs.

Cree Inc., down $6.10 at $42.90

The maker of LED lighting products cut its third-quarter revenue target mainly due to lower chip and component sales.