CVS Caremark, McClatchy, Broadcom are big movers

AP News
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Posted: May 27, 2011 4:34 PM
CVS Caremark, McClatchy, Broadcom are big movers

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

NYSE

CVS Caremark Corp., up 65 cents at $38.80

The pharmacy benefits company won a lucrative three-year contract from the Blue Cross Blue Shield Federal Employee Program.

MedcoHealth Solutions Inc., down $5.78 at $58.66

A Blue Cross Blue Shield pharmacy benefits contract worth $3 billion in annual revenue won't be renewed in 2012.

McClatchy Co., up 19 cents at $2.95

The Miami Herald publisher is selling the newspaper's building and 14 surrounding acres to a developer for $236 million.

Nasdaq

Marvell Technology Group Ltd., up $1.61 at $16.17

The chipmaker said the latest quarter was a tough one, but strong sales in China helped it post a better-than-expected forecast.

Broadcom Corp., up $1.87 at $36.52

An FBR analyst named the chipmaker a "Top Pick," saying that growing demand for smartphones would fuel its sales.

Advanced Analogic Technologies Inc., up $2.13 at $6.03

Semiconductor developer Skyworks Solutions agreed to acquire the chipmaker in a cash-and-stock deal worth about $262.5 million.

rue21 Inc., up $4.36 at $32.96

The teen clothing retailer increased its guidance for the year after profit grew 65 percent in the first quarter.

Mentor Graphics Corp., down $1.18 at $13.46

The software company posted record first-quarter revenue, but its second quarter outlook fell short of analyst expectations.