JPMorgan, Metabolix, Shutterfly are big movers

AP News
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Posted: Jan 13, 2012 4:38 PM
JPMorgan, Metabolix, Shutterfly are big movers

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

NYSE

JPMorgan Chase & Co., down 93 cents at 35.92

The bank said that its fourth-quarter income dropped 23 percent as its investment banking income fell, missing analyst estimates.

Patriot Coal Corp., down $1.15 at $7.87

The coal company said that weak demand for metallurgical coal, used in making steel, is forcing it to cut back on production.

Novartis AG, down 93 cents at $55.80

The drugmaker said it will cut 1,960 jobs in the U.S. this year in anticipation of lower sales for two of its hypertension drugs.

Nasdaq

JDA Software Group Inc., down $4.38 at $28.42

The supply-chain management software maker gave a fourth-quarter revenue outlook that was below what Wall Street was expecting.

Shutterfly Inc., down $1.36 at $22.70

The online photo service company, based in Redwood City, Calif., said its Chief Financial Officer Mark Rubash is leaving next month.

Diamond Foods Inc., down $3.40 at $29.73

The Wall Street Journal reported that a federal inquiry is looking into the snack maker's financial practices for criminal fraud.

Metabolix Inc., down $3.45 at $2.54

A Jefferies analyst downgraded the bioscience company's stock to "Hold" from "Buy" and cut the stock's price target to $4 from $9.

Synutra International Inc., up 13 cents at $4.37

The Chinese infant formula maker said that government tests proved that a child's recent death wasn't linked to its products.