Kohl’s, Sara Lee, Barnes & Noble, Cisco Systems among big market movers ThursdayBy AP
Thursday, August 12, 2010
Kohl’s, Sara Lee, Barnes & Noble big market movers
NEW YORK — Stocks that moved substantially or traded heavily Thursday on the New York Stock Exchange and Nasdaq Stock Market:
Kohl’s Corp., down $1.28 at $46.50
The department store’s quarterly profit grew, but it trimmed its outlook for the year because it expects slower sales growth.
Sara Lee Corp., down 10 cents at $14.37
The food maker said quarterly revenue rose as more products sold for higher prices, but higher spending on marketing weighed on profit.
Estee Lauder Cos., down $1.55 at $58.80
The skin care and makeup seller posted a profit outlook that was weaker than analysts had expected.
Potash Corp. of Sasketchewan Inc., up $3.84 at $112.04
The USDA cut its global wheat production forecast, sending grain prices higher and possibly increasing farmers’ incomes and fertilizer demand.
Juniper Networks, down $1.89 at $25.78
A disappointing sales forecast from Cisco dragged down shares of its competitors that also provide computer networking equipment.
Barnes & Noble Inc., up 58 cents at $15.06
The bookseller has not reached a settlement with financier Ron Burkle’s Yucaipa Cos. after news reports the companies were close to a deal.
Cisco Systems Inc., down $2.37 at $21.36
The network gear maker warned that it expected slower sales in the current quarter, saying it was getting “mixed signals” from customers.
Research in Motion Inc., down $2.02 at $54.17
India set a deadline of August 31 for the BlackBerry maker to address security concerns before the government blocks key phone services.