Caterpillar and Netflix are big market movers

AP News
Posted: Oct 23, 2013 4:37 PM

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


Caterpillar Inc., down $5.41 to $83.76

Earnings fall 44 percent and the maker of heavy machinery cut its outlook for the year due to weakness in mining.

Corning Inc., up $2.17 to $17.52

The maker of glass screens used in smartphones and tablets bought out Samsung's stake in a Korean LCD glass joint venture.

Lumber Liquidators Holdings Inc., up $5.17 to $113.99

The lumber retailer rode a resurgent housing sector in the third quarter, posting a 58 percent jump in profits.

Safeway Inc., up $2.68 to $35.58

Reuters reports that a handful of private equity groups, including Cerberus Capital Management, are exploring a full or partial buyout of the supermarket chain.


Altera Corp., down $5.02 to $32.30

Falling profits, falling revenue and a weak forecast made the computer chip maker the biggest decliner on the S&P 500.

Cree Inc., down $12.55 to $61.77

The LED lighting company issued a weak forecast, which overshadowed a big jump in profits during the most recent quarter.

Netflix Inc., up $7.72 to $330.24

Shares rebound in heavy trading after investor Carl Icahn revealed the sale of a huge stake in the online video company.

Broadcom Corp., down 78 cents to $26.36

The communications chip maker gave a disappointing revenue outlook for the fourth quarter and Apple will not include a new wireless computer networking standard in its latest iPad model.