AP News

E-Trade and SAIC are big market movers Wednesday


NEW YORK, AP — Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and the Nasdaq Stock Market:

NYSE

J.C. Penney Co. Inc., up 78 cents to $13.50

Hedge funds continue to plow money into the ailing retailer, the latest being Glenview Capital Management.and Hayman Capital Management.

SAIC Inc., down 74 cents to $14.41

Quarterly earnings at security and communications company SAIC tumbled 61 percent as it split into two companies and its performance lagged.

Dollar General Corp., up $2.51 to $56.39

Rising foot traffic through its doors and ongoing pressure on consumers to find bargains sent profits at the discount retailer up 15 percent in the most recent quarter.

Newell Rubbermaid Inc., up 30 cents to $26.02

The household products maker maintains its fiscal outlook despite signs of a cooling off in U.S. home sales.

NASDAQ

E-Trade Financial Corp., up $1.17 to $15.71

The online broker received regulatory approval to distribute $100 million in capital from its bank subsidiary, which may help lower debt.

Micron Technology Inc., up 74 cents to $14.75

A possible fire at a memory storage facility in China sent shares of several semiconductor and memory drive companies higher, as supply is already tight.

Ciena Corp., up $2.86 to $23.54

Sharply higher revenue helped to narrow losses during the most recent quarter at the high-speed networking technology maker.


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