CarMax, Sotheby's, Sanderson Farms are big movers

AP News
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Posted: Mar 31, 2011 4:34 PM
CarMax, Sotheby's, Sanderson Farms are big movers

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

NYSE

CarMax Inc., down $2.49 at $32.10

The used car dealership chain said its net income and sales grew in the most recent quarter, but its gross margin was lower.

American International Group Inc., down 91 cents at $35.14

The bailed-out insurer named a new CEO and management team for its Chartis global property casualty business as part of a reorganization.

Las Vegas Sands Corp., down $1.25 at 42.22

The company said Hong Kong financial regulator are probing its Macau casino over "alleged breaches" of financial regulations.

Horizon Lines Inc., down 42 cents at 85 cents

Shares of the shipping company dropped after it was reported that the company might file for bankruptcy.

CF Industries Holdings Inc., up $4.18 at $136.79

A government report predicted that farmers will be planting more corn this spring, boosting shares of the fertilizer maker.

Sotheby's, up $2.90 at $52.60

Strong demand for Asian art prompted an analyst to raise earnings estimates and the stock price target price on the auction house.

NASDAQ

Sanderson Farms Inc., down $1.44 at $45.92

The USDA said corn stockpiles slid, and analysts expect grain prices to remain high, which could drive up costs for animal feed.

Dendreon Corp., up $1.89 at 37.43

Medicare officials announced that they would pay the $93,000 cost of the company's prostate cancer drug Provenge.