Monday, January 28, 2013 5:08 pm
Hess, PetSmart, Jos. A Bank are market movers
The Associated Press
Hess Corp., up $3.58 at $62.48
The energy company plans to sell its U.S. terminal network and close its New Jersey refinery, exiting the refining business.
AK Steel Holding Corp., down 33 cents at $4.11
A Goldman Sachs analyst downgraded the steel company's stock to "Sell," saying the stock may fall after its recent rise.
Sony Corp., up 71 cents at $15.12
A Citi analyst upgraded the electronics maker's stock to "Buy," saying the weakening Japanese yen will help the company.
Brookfield Office Properties Inc., down 41 cents at $16.61
A Citi analyst downgraded the real estate investment trust and lowered its price target, citing the end of a major tenant's lease.
PetSmart Inc., down $6.36 at $63.63
A Nomura analyst downgraded shares of the pet food retailer citing increased competition from Internet retailer Amazon.com.
Jos. A Bank Clothiers Inc., down $6.99 at $39.28
The men's clothing retailer announced that its fiscal 2012 net income will be about 20 percent lower than the previous year.
Bed Bath & Beyond Inc., down $1.27 at $58.51
A Goldman Sachs analyst downgraded shares of the home goods retailer citing moderating sales growth and increasing competition.
Ingredion Inc., down $3.25 at $66.75
A Citi analyst cut his rating on the high-fructose corn syrup maker's stock, saying it could be hurt by declining sugar prices.