Lowe's, Krispy Kreme, Chesapeake are market movers

AP News
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Posted: May 21, 2012 5:02 PM
Lowe's, Krispy Kreme, Chesapeake are market movers

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

NYSE

Lowe's Cos. Inc., down $2.88 at $25.60

The home improvement retailer's first-quarter profit rose, but it cut its full-year earnings forecast citing a weak housing market.

Krispy Kreme Doughnuts Inc., up 61 cents at $6.62

The doughnut chain said its first-quarter profit fell 34 percent, but its adjusted earnings beat Wall Street expectations.

Chesapeake Energy Corp., up 55 cents at $14.91

The natural gas and oil company vowed to cut the pay and perks for its outside directors as it clamps down on its leadership.

American Eagle Outfitters Inc., up $1.93 at $20.33

The teen-oriented clothing chain said it plans to stop selling children's items and its chief financial officer is stepping down.

Alpha Natural Resources Inc., up 78 cents at $11.67

A Brean Murray analyst upgraded his rating on the coal miner's shares to "Buy" from "Hold" and gave them a price target of $15.

General Cable Corp., up $2.49 at $29.55

The maker of wire and cable products said it will buy Alcan Cable, the wire and cable business of Rio Tinto, for $185 million.

Cooper Industries PLC, up $14.04 at $69.88

Diversified manufacturer Eaton Corp. said it is buying the Irish electrical equipment supplier Cooper Industries for about $11.46 billion.

Nasdaq

Smith & Wesson Holding Corp., up 36 cents at $6.59

Citing strong demand for its firearms, the gun maker boosted its sales outlook to $129 million for the fourth-quarter.