Movers roundup: Schnitzer Steel shares fall on downgrade, Cisco stock climbs ahead of event

Movers roundup: Schnitzer Steel, Cisco Systems

Among the stock activity stories for Monday, March 8, from AP Financial News:

NEW YORK (AP) — Shares of Schnitzer Steel Industries fell as a UBS analyst downgraded the scrap steel processor.

NEW YORK (AP) — Shares of Cisco Systems Inc., the world’s largest maker of computer networking gear, rose after JP Morgan initiated coverage of the stock with an “Overweight” rating, and investors waited for a Cisco news conference on Tuesday.

NEW YORK (AP) — Shares of Sprint Nextel Corp. rose after Chief Financial Officer Bob Brust told investors the telecommunications company plans to pay down its debt and continue to strengthen its balance sheet.