Talbots, Sprint Nextel, Cablevision are big movers

AP News
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Posted: Jun 07, 2011 4:45 PM
Talbots, Sprint Nextel, Cablevision are big movers

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

NYSE

Temple-Inland Inc., up $ 8.48 at $29.49

The packaging and building materials maker adopted a "poison pill" to prevent a takeover bid from rival International Paper.

The Talbots Inc., down $1.79 at $2.63

The women's clothing retailer said sales and customer traffic in the current quarter are suffering, and it plans to increase markdowns.

Sprint Nextel Corp., down 11 cents at $5.49

A Stifel Nicolaus analyst said Sprint's network renovation may not improve results much and downgraded the wireless carrier.

Pep Boys-Manny, Moe & Jack, down $2.30 at $11.20

The auto parts chain reported quarterly earnings that fell short of analyst estimates as rainy weather hurt demand.

Cablevision Systems Corp., up $1.53 at $35.65

The cable company got a boost from news that a planned spinoff of its cable networks will take place at the end of June.

Cliffs Natural Resources Inc., down $1.22 at $85.63

The mine operator will sell nine million shares to raise money to repay funds it borrowed to buy Consolidated Thompson Iron Mines.

Nasdaq

Skyworks Solutions Inc., up $1.80 at $25.08

The chipmaker backed its current quarter and next quarter guidance, and clarified that the outlook excluded recent acquisitions.

G-III Apparel Group Ltd., down $4.49 at $33.98

The clothing maker posted a quarterly loss, when analysts expected a profit, because of rising expenses for materials and labor.