Allstate, Revlon and Apple are big market movers

AP News
Posted: Aug 05, 2013 5:01 PM

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


Tyson Foods Inc., up $1.18 to $29.69

The stock in the nation's biggest meat producer hit a 52-week high after topping Wall Street expectations during the third quarter. The company stuck by its earlier revenue forecast, which was already better that analyst projections.

The Allstate Corp., down 86 cents to $51.29

Deutsche Bank downgrades Allstate's stock, which had risen almost 28 percent this year, saying that company leadership has done just about all it can to deliver value to shareholders.

Revlon Inc., up $1.66 to $26.16

The beauty-products company is buying Colomer for $660 million in a bid to grow internationally. About half of all Colomer sales are in Europe, the Middle East and Africa.

The New York Times Co., down 5 cents to $11.88

The price tag for the company's sale of The Boston Globe disappoints some investors. Three bidders who fell short in their attempts to purchase The Globe say they offered more than Boston Red Sox owner John Henry's winning $70 million bid.


Apple Inc., up $6.91 to $469.45

President Barack Obama's trade representative vetoed a ban on imports of some Apple iPads and older iPhones over the weekend, delivering good news to shareholders of the technology giant.

Fossil Group Inc., down $6.90 to $107.42

Company shares slump 5 percent on a downgrade from Barclays, which said that Google searches for the Fossil brand have declined during 14 of the 18 weeks since the end of the first quarter. That is during a period of heavy promotion by the watch and handbag maker.

Kraft Foods, down $1.05 cents to $56.45

"Mac n' Cheese is becoming an increasingly crowded space," according to analysts with Jefferies & Co., which downgraded the company's stock. Kraft shares had already risen 24 percent this year and now it faces growing competition from General Mills and Campbell Soup.

Canadian Solar Inc., up $1.64 to $15.75

The company sold five utility-scale solar power plants worth over $277 million to an affiliate of real estate developer Concord Pacific.