Citi, Disney, Capital One are big market movers

AP News
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Posted: Aug 10, 2011 5:32 PM
Citi, Disney, Capital One are big market movers

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

NYSE

Citigroup Inc., down $3.33 at $28.49

The banking giant was one of the financial sector's biggest decliners as investors worried about the health of financial institutions.

Bank of New York Mellon Corp., down $1.65 at $19.46

The trust bank will cut 1,500 jobs, 3 percent of its work force, because expenses have been growing faster than revenue.

Stifel Financial Corp., down $2.72 at $25.88

The SEC accused the company's brokerage, Stifel Nicolaus, of civil fraud for risky deals sold to five Wisconsin school districts.

Capital One Financial Corp., up 28 cents at $41.05

The financial services company is expanding its credit card business by buying the U.S. credit card arm of Britain's HSBC.

Walt Disney Co., down $3.16 at $31.54

Concern about the company's fourth-quarter ESPN revenue and weakness at its movie studio weighed on shares.

Polo Ralph Lauren Corp., up $5.43 at $125.28

The clothing company raised its revenue forecast for the year. Quarterly profit shot up, despite higher costs, as retail sales grew.

Nasdaq

Cree Inc., up $4.59 at $34.08

Canaccord Genuity upgraded the lighting maker after its quarterly profit declined, but topped Wall Street expectations.

Motricity Inc., down $2.69 at $1.86

Shares of the mobile phone Internet services company lost more than half their value after the company posted a weak outlook.