Friday, August 16, 2013 4:34 pm
Pandora and General Mills are big market movers
The Associated Press
J.C. Penney Co. Inc., down 43 cents to $13.40
A regulatory filing revealed that the retailer has cleared the way for former board member and activist investor Bill Ackman to sell his substantial holdings in the company after a very public confrontation last week.
Pandora Media Inc., up 49 cents to $20.34
The online music service last week reported a 17 percent increase in June listener hours and it got an upgrade from Goldman Sachs.
Nordstrom Inc., down $2.90 to $56.43
The department store cut its profit outlook for the year late Thursday, adding to the gloom in the retail sector due to consumers' reluctance to spend.
General Mills Inc., down $1.17 to $49.38
Jefferies & Co. issued a downgrade, citing concerns that the company best know for its Cheerios, Betty Crocker and Yoplait brands is not advertising aggressively.
PulteGroup Inc., up 37 cents to $16.28
Homebuilders' stocks rallied after the government reported that developers broke ground on new homes at a faster clip last month.
First Solar Inc., up 53 cents to $38.16
The entire solar sector is getting a lift from better-than-expected earnings and improved outlooks from some of the industry's biggest companies, as well as rising orders in Japan and the U.S.
Applied Materials Inc., up 30 cents to $15.62
New management and a bullish outlook for chip makers brings an upgrade from DA Davidson, after the company beat revenue expectations in its latest quarter.
Jos. A Bank Clothiers Inc., down $3.10 to $41
The retailer warned late Thursday that its second-quarter profit and revenue may fall short of market expectations.