UPS and Best Buy are big market movers

AP News
Posted: Jan 17, 2014 4:27 PM

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


United Parcel Service Inc., down 58 cents to $99.91

December shipping problems amid "an unprecedented level of online shopping" took a bite out of the company's fourth-quarter earnings.

General Electric Co., down 62 cents to $26.58

The conglomerate met the expectations of Wall Street analysts in the fourth quarter, but margins were under pressure.

Best Buy Co. Inc., down $2.40 to $24.43

The fallout continues from the electronics retailer's dismal holiday sales, as UBS and Goldman Sachs both issue downgrades.

Silver Spring Networks Inc., down $5.81 to $17.69

The networking company, which helps utilities upgrade their grid infrastructures, said it could lose money in the fourth quarter.

Forest Laboratories Inc., up 46 cents to $68.74

Seeing "early innings of a multi-year rejuvenation story," Credit Suisse upgrades the drug developer to an "Outperform" rating.


Intel Corp., down 69 cents to $25.85

The chipmaker's fourth-quarter profits fell short of most Wall Street expectations as the shift from PCs to tablets continues.

Electronic Arts Inc., up $2.56 to $24.10

Cowen and Co. cites strong December video game sales for the game maker.

SLM Corp., down $2.67 to $24.47

Fourth-quarter profit fell 22 percent even though the student loan company was required to set aside less money for loan losses.

Ariad Pharmaceuticals Inc., up 16 cents to $6.90

The pharmaceutical company announces the availability of its leukemia drug Iclusig after addressing the safety concerns of regulators.