Coach, Verizon, Peabody Energy are big movers

AP News
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Posted: Jan 24, 2012 5:07 PM
Coach, Verizon, Peabody Energy are big movers

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

NYSE

Coach Inc., up $3.73 at $67.97

Strong holiday sales of luxury handbags helped the leather goods retailer post a 15 percent jump in quarterly profit, topping estimates.

Peabody Energy Corp., down 65 cents at $36.86

Demand from China helped the miner sell more coal at higher prices, but results still missed expectations by a wide margin.

Verizon Communications Inc., down 61 cents at $37.79

The cell phone company sold 4.3 million iPhones during the fourth quarter, but the hefty costs of those phones held back quarterly profits.

Brinker International Inc., down $1.95 at $25.66

The owner of Chili's restaurant reported a drop in quarterly profit as it booked costs to close some struggling locations.

Quest Diagnostics Inc., up $4.23 at $60.73

The medical laboratory operator reported better-than-expected quarterly earnings and boosted its stock buyback plan by $1 billion.

NASDAQ

Polycom Inc., up $2.43 at $20.85

The videoconferencing equipment maker posted a 50 percent jump in fourth-quarter profit, benefitting from strong demand in emerging markets.

InterDigital Inc.'s, down $8.56 at $35.89

The board has decided not to pursue a sale, concluding that the wireless technology developer should pursue more patent sales and licensing deals.

Bon-Ton Stores Inc., up 53 cents at $3.76

The department store retailer named former Lord & Taylor executive Brendan Hoffman as president and CEO.