Movado and Facebook are big market movers

AP News
Posted: Mar 26, 2014 4:40 PM

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


Movado Group Inc., up $4.28 to $46.31

After topping Wall Street expectations for the fourth quarter, the jeweler issued a full-year forecast that wowed analysts.

International Game Technology, down $1.23 to $13.62

The slot machine maker cut its outlook and said that it is "taking actions to realign its cost structure" for earnings growth.

Steelcase Inc., up $1.70 to $16.28

Wall Street analysts are increasingly optimistic about the prospects for the furniture maker after a strong quarter.


Garmin Ltd., up 90 cents to $55.36

Citigroup upgraded the stock on what it sees as big potential for the GPS company's new sports-oriented technology.

Facebook Inc., down $4.50 to $60.38

Investors question whether the social network's $2 billion acquisition of virtual reality company Oculus will deliver real-world dollars.

Five Below Inc., up $4.34 to $42.34

The discount retailer's profit and revenue surpassed Wall Street expectations for the fourth quarter.

Panera Bread Co., down $15.77 to $170.05

Wunderlich downgraded the restaurant chain's stock, citing expectations for "lumpy" earnings performance through next year.

Insmed Inc., down $2.39 to $15.90

The company's lung disease treatment, the inhaled antibiotic Arikayce, fell short of its main goal in a mid-stage study.