Chesapeake Energy, Netflix, RIM are big movers

AP News
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Posted: Jan 23, 2012 5:09 PM
Chesapeake Energy, Netflix, RIM are big movers

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

NYSE

Chesapeake Energy Corp., up $1.32 at $22.28

Chesapeake Energy Corp. said it will drastically cut natural gas drilling and production in the face of decade-low prices.

Halliburton Co., down 76 cents at $35.44

The oilfield services company posted a 50 percent jump in quarterly profit, but investors seemed disappointed it didn't beat estimates by a wider margin.

International Rectifier Corp., down 28 cents at $23.15

The chipmaker cut its revenue forecast for the last three months of 2011 because of lower demand in China and Europe and supply-chain disruptions linked to flooding in Thailand.

Nasdaq

Research In Motion Ltd., down $1.44 at $15.56

Founders Jim Balsillie and Mike Lazaridis step down as co-CEOs of the BlackBerry maker, which continues to lose market share to Apple's iPhone and phones running Google's Android.

PetMed Express Inc., up $1.24 at $12.51

The pet products retailer reported better-than-expected fourth-quarter sales of animal medicine, primarily due to a rise in online orders.

Netflix Inc., down $6.28 at $93.96

Investors fear that financial aftershocks from a recent customer backlash and costs of international expansion will saddle the video subscription service with worse losses than analysts have projected.

Mellanox Technologies Ltd., down $2.27 at $31.35

The maker of switches and adapters for data servers slashed prices for some of its products in an effort to drive sales.

Rimage Corp., down $1.35 at $11.83

The CD and DVD production company cut its fourth-quarter outlook due to costs from its acquisiton of a video production company.