Netflix, Panera, Corning are market movers
NEW YORK (AP) — Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and Nasdaq Stock Market:
Corning Inc., down $1.26 at $12.15
The glass and ceramics maker said that it will likely cut costs, including job eliminations, to support profit in a weakening economy.
Lorillard Inc., down $4.08 at $111.70
The maker of Newport and Kent cigarettes said its third-quarter net income rose 6 percent, but its results missed analysts' expectations.
Norfolk Southern Corp., down $4.92 at $61.09
The railroad said that a weak economy contributed to a 27 percent drop in profits as it hauled less coal and other merchandise.
Tempur Pedic International Inc., down $6.21 at $25.66
The maker of mattresses and pillows posted disappointing results for its third quarter. It also slashed its outlook for the year.
Fortune Brands Home & Security Inc., up $2.23 at $29.20
The maker of Moen faucets and Master locks posted sharply higher third-quarter net income, thanks to an improving housing market.
Netflix Inc., down $8.10 at $60.12
The online video and DVD subscription service cut its outlook for how many U.S. streaming subscribers it would add this year.
Panera Bread Co., up $8.09 at $168.43
The bakery-cafe chain reported that its third-quarter net income rose 27 percent on strong demand for its soups and sandwiches.
iRobot Corp., down $4.32 at $18.32
The maker of the Roomba vacuum cleaner said that its third-quarter profit rose, but it said it will lose money in the fourth quarter.