Best Buy, Microsoft, Amazon are big market movers

AP News
Posted: Jun 27, 2011 4:59 PM
Best Buy, Microsoft, Amazon are big market movers

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


Best Buy Co. Inc., down $1.16 at $31.32

Fitch Ratings cut its long-term default rating on the electronics retailer citing weak sales trends and tough competition.

LDK Solar Co. Ltd., up 33 cents at $7.14

The Chinese solar module maker said it will buy back up to $110 million of its American depositary shares.

Nasdaq Inc., up $8.70 at $201.25

A Morgan Stanley analyst added the online retailer to its "Best Ideas" list saying its sales growth could outperform estimates.

Microsoft Corp., up 90 cents at $25.20

The software giant signed a patent deal with rugged mobile computer maker General Dynamics Itronix that will pay it royalties.

ICAgen Inc., up $3.93 at $6.33

Drugmaker Pfizer said Friday that it is looking at a possible "strategic transaction" with the biopharmaceutical company.

Pain Therapeutics Inc., down $1.37 at $3.93

The biopharmaceutical company's shares fell again after regulators last week rejected a drug developed with Pfizer and Durect.

EZCORP Inc., up $2.25 at $34.32

A Sterne Agee analyst upgraded the payday lender's stock saying its business strategy should support earnings growth.

Universal Forest Products Inc., down $2.56 at $23.80

Because of weaker-than-expected sales, the wood-products holding company will cut jobs and take other cost-cutting measures.