OfficeMax, Wendy's, Fossil are market movers

AP News
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Posted: May 08, 2012 5:39 PM
OfficeMax, Wendy's, Fossil are market movers

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

NYSE

OfficeMax Inc., up 49 cents at $4.89

Thanks to its cost-cutting, the office supply retailer posted first-quarter results that beat Wall Street's expectations.

Tenet Healthcare Corp., up 6 cents at $5.10

The hospital operator said its first-quarter earnings fell 20.5 percent as its expenses and bad debt rose.

Nasdaq

The Wendy's Co., down 20 cents at $4.67

The fast-food company reported a first-quarter profit that missed Wall Street expectations and it cut its forecast for the year.

Fossil Inc., down $47.25 at $78.52

The watch company's 2012 profit forecast disappointed investors and it said sales in Europe fell as the economy weakened.

Wynn Resorts Ltd., down $5.96 at $119.23

The casino operator said its first-quarter profit fell 19 percent on a decline in business at its Las Vegas operations.

Electronic Arts Inc., down 65 cents at $14.48

The maker of video and computer games such as The Sims 3 and Madden NFL forecast lower-than-expected revenue for the coming year.

FreightCar America Inc., up 50 cents at $21.26

The freight car maker returned to a profit in its first quarter as it delivered more railcars and cut its manufacturing costs.

Dendreon Corp., down $2.94 at $8.75

The drugmaker reported a loss and modest growth for its only marketed product, the prostate cancer treatment Provenge.