Coach, US Steel and Goodyear are big market movers

AP News
Posted: Jul 30, 2013 4:41 PM

NEW YORK (AP) — Stocks that moved substantially or traded heavily Tuesday on the New York Stock Exchange and the Nasdaq Stock Market:


The Mosaic Co., down $9.15 to $43.81

A massive Russian potash producer pulled out of a sales partnership, signaling an end to a global cartel that commands 70 percent of the world market. That's likely to reduce sharply the price of potash, a nutrient used in fertilizers, and has already cut into shares of companies that produce it.

Coach Inc., down $4.55 to $53.30

Shares slumped after the company announced the departure of two top executives and poor sales of handbags during the final quarter of the year.

United States Steel Corp., down $1.27 to $17.71

The steel maker posted a second consecutive quarterly loss, making it five out of seven in the red, and it gave a cautious forecast for the current period.

Occidental Petroleum Corp., down $2.16 to $88.32

The company delivered a profit that topped Wall Street expectations, but its revenue numbers left investors wanting.

Pitney Bowes Inc., up $1.88 to $16.60

The mailing equipment and software company beat expectations for the quarter and said it will sell its North American management services unit to Apollo Global Management for $400 million.


Goodyear Tire & Rubber Co., up $1.52 to $18.56

The company's second-quarter earnings more than doubled and it is optimistic about the entire year. Goodyear even did well in Europe, a danger zone for most automotive companies, doubling its earnings there to $51 million.

Vanda Pharmaceuticals Inc., up $3.56 to $11.61

The Food and Drug Administration is planning a faster review of the company's sleep disorder drug, tasimelteon. That could bring the drug to market sooner than most had expected.

R.R. Donnelley & Sons Co., up $2.68 to $18.93

The stock jumped to its highest price in almost two years after the printing company beat Wall Street projections for the second quarter.