Wal-Mart, Home Depot, Sprint are big market movers

AP News
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Posted: Aug 16, 2011 4:26 PM
Wal-Mart, Home Depot, Sprint are big market movers

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

NYSE

Wal-Mart Stores Inc., up $1.94 at $51.92

The world's biggest retailer said quarterly profit rose thanks to sales growth overseas and cost cutting, but U.S. sales suffered.

Home Depot Inc., up $1.66 at $33.12

The retailer's quarterly net income grew on customers' need to make storm-related repairs. It raised its profit forecast for the year.

Sprint Nextel Corp., up 11 cents at $3.59

A Collins Stewart analyst upgraded the wireless carrier, saying the company should show significant improvement by 2013.

Citigroup Inc., down $1.33 at $29.94

The bank was one of many declining financial-sector stocks as investors worried about slowing global growth and Europe's debt problems.

Albemarle Corp., down $4.19 at $55.26

An Oppenheimer analyst cut his rating on the specialty chemcial maker, saying the weak economy could hurt demand for its products.

Fabrinet, up $2.68 at $17.94

A JPMorgan analyst upgraded his investment rating on the supplier of equipment for optical network makers.

Nasdaq

Urban Outfitters Inc., down $1.86 at $27.83

Disappointing sales so far in August at the company's Anthropologie stores raised worries about the retailer's profit margins.

Renaissance Learning Inc., up $2.74 at $14.57

European private equity firm Permira is buying the maker of test products for K-12 students for $440 million.