Walgreen, Talbots, GameStop, Imax are big movers

AP News
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Posted: Mar 24, 2011 5:31 PM
Walgreen, Talbots, GameStop, Imax are big movers

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

NYSE

Walgreen Co., up 12 cents at 39.95

The drugstore operator will buy online retailer drugstore.com for about $429 million, giving it access to 3 million online customers.

Red Hat Inc., up $7.29 at $47.26

The software company's latest results were stronger than expected as corporations rushed to adopt "cloud computing" technologies.

The Talbots Inc., up $1.09 at $5.89

The women's clothing chain said it is closing as many as 100 stores and will renovate another 70 as it tries to turn around its business.

GameStop Corp., up 62 cents at $21.73

The video game retailer's quarterly earnings rose 10 percent as revenue grew, driven by new e-commerce and digital offerings.

NASDAQ

Scholastic Corp., down $3.50 at $27.74

The children's publisher posted a deeper quarterly loss and lowered its outlook for the full year because of shrinking school budgets.

Imax Corp., up $3.39 at $29.99

The wide-screen theater company plans to add 75 more theaters over the next four years in China, its fastest-growing market.

Micron Technology Inc., up 89 cents at $11.50

The computer memory chip maker posted a big drop in profit as chip prices fell, but results weren't as bad as had been feared.

Paychex Inc., down $1.28 at $30.96

Analysts noted weaknesses in the payroll processing company's new sales, which suggests that revenue growth for next year may disappoint.