Nike, MBIA, Accenture are big market movers

AP News
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Posted: Jun 28, 2011 4:50 PM
Nike, MBIA, Accenture are big market movers

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

NYSE

Nike Inc., up $8.28 at $89.90

The sneaker and athletic gear maker said sales accelerated in its most recent quarter, and profit topped analyst expectations.

MBIA Inc., down 40 cents at $7.77

New York's top court reinstated a lawsuit by a dozen banks challenging the bond insurer's 2009 restructuring.

Accenture PLC, up $1.86 at $59.65

The consulting firm will join the S&P 500 index starting in July. Fund managers that track the index will likely buy shares.

NRG Energy Inc., up 85 cents at $23.91

A Jefferies analyst upgraded the power generation company to "Buy" in anticipation of bigger share buybacks.

Anixter International Inc., up $3.32 at $64.50

A Baird analyst upgraded the communications and electronics products distributor to "Outperform" after the stock's recent decline.

Nasdaq

Spreadtrum Communications Inc., down 46 cents at $12.49

Muddy Waters, a research firm that publishes negative reports on Chinese companies, took a short position in the Chinese chipmaker.

Standard Microsystems Corp., up $2.30 at $26.31

The semiconductor maker reported quarterly net income of almost 10 times what it earned a year ago, beating Wall Street estimates.

Westport Innovations Inc., up $2.49 at $24

The maker of alternative fuels engines signed a deal with General Motors Co. to develop natural gas engine technologies.