GE, Morgan Stanley, RIM are market movers
NEW YORK (AP) — Stocks that moved substantially or traded heavily Friday on the New York Stock Exchange and Nasdaq Stock Market:
General Electric Co., up 74 cents at $22.04
The conglomerate said that its net income rose 8 percent in the fourth quarter as earnings at all its industrial segments improved.
State Street Corp., up $2.98 at $53.36
The financial company said it plans to lower expenses by cutting 630 jobs, or about 2 percent of its worldwide workforce.
Morgan Stanley, up $1.63 at $22.38
The New York-based investment bank reported a profit in the fourth quarter, reversing a loss in the same period a year ago.
Johnson Controls Inc., down 95 cents at $31.01
The heating and ventilation systems maker reported a 17 percent decline in its first-quarter net income and posted a weak outlook.
Capital One Financial Corp., down $4.60 at $56.99
The lender said that its fourth-quarter net income grew more than twofold, and revenue rose by 38 percent, but results missed analysts' expectations.
Intel Corp., down $1.43 at $21.25
The chipmaker said that its fourth-quarter net income fell 27 percent from the previous year as PC sales continued to weaken.
Netflix Inc., up $1.47 at $99.17
A Janney Capital Markets analyst upgraded the video-streaming company to a "Buy" and said it could see long-term growth.
Research In Motion Ltd., up 93 cents at $15.84
A Jefferies analyst upgraded the BlackBerry maker to a "Buy" rating ahead of the launch of its long-delayed new smartphones.