BofA, Delta, Thomas & Betts are market movers

AP News
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Posted: Jan 30, 2012 4:29 PM
BofA, Delta, Thomas & Betts are market movers

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

NYSE

Bank of America Corp. (BAC), down 22 cents at $7.07

Worries about the European debt crisis weighed on bank stocks, and a Goldman Sachs analyst downgraded BofA's investment rating.

Delta Air Lines Inc., up 38 cents at $10.77

The Wall Street Journal reported that the airline was thinking about buying US Airways Group Inc. or American Airlines parent AMR Corp.

Gannett Co., down $1.05 at $14.17

The publisher of USA Today and other newspapers said profit dropped 33 percent in its most recent quarter, while revenue declined.

Pep Boys _ Manny, Moe & Jack, up $2.85 at $14.93

The auto parts chain is being taken private by investment firm The Gores Group for $791 million, a 24 percent premium to its stock price.

Thomas & Betts Corp., up $13.36 at $71.31

Swiss engineering group ABB Ltd. will buy the electrical parts maker for $3.9 billion, a 24 percent premium to its stock price.

U.S. Steel Corp., down $1.15 at $28.73

The steelmaker is selling its Serbian subsidiary to the government there for $1 and will record a charge of up to $450 million.

Nasdaq

Amylin Pharmaceuticals Inc., up $2.12 at $14.26

The FDA last week approved the drug developer's diabetes treatment Bydureon, which requires fewer injections that an older drug.

Renren Inc., up $1.06 at $6.31

The Chinese social networking website got a boost from reports that Facebook will soon file for an initial public offering.