AIG, American Axle, Whole Foods, EA are big movers
NEW YORK — The following stocks were among those that moved substantially or traded heavily Wednesday on the New York Stock Exchange and Nasdaq Stock Market:
NYSE
American International Group Inc., up $8.48 at $22
Shares of the embattled insurer gained more than 60 percent ahead of its earnings release slated for Friday and the Monday start of new CEO Robert Benmosche, former head of MetLife.
American Axle and Manufacturing Holdings Inc., up $1.14 at $3.75
The auto supplier’s second-quarter loss shrunk in half from a year ago — but so did its sales due to Detroit automakers’ plant shutdowns.
Radian Group Inc., up $3.05 at $6.72
The mortgage insurer posted a surprise profit in the second quarter and said new underwriting was nearly all of prime credit-quality.
Tyson Foods Inc., down 38 cents at $10.95
A KeyBanc analyst downgraded the meat producer’s shares to “Hold,” saying he was concerned about lower sales prices for chicken.
NASDAQ
Whole Foods Market Inc., up $3.88 at $28.70
The natural and organic grocer’s shares hit a 12-month high after it said profit, sales and traffic grew in its fiscal third quarter.
Electronic Arts Inc., down $1.49 at $20.40
While the video game maker’s first-quarter results beat expectations, analysts worried about sales of sports games and new releases.
Garmin Ltd., up $6.48 at $33.66
The maker of GPS technology for cars, boats and planes said profit shrank in the second quarter, but it expects improvements in sales.
Novavax Inc., up 53 cents at $5.16
The biotechnology company said it has created swine flu virus-like particles for use in a potential vaccine in only 11 weeks.
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NYSE:
Citigroup Inc., down 40 cents at $4.12
Media reports said the bank is weighing a multibillion-dollar stock offering to repay bailout aid, while the government cuts its stake. Kroger Co., down $1.65 at $20.46
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NYSE:
American Axle & Manufacturing Holdings Inc., up $3.08 at $5.70
The auto parts manufacturer won another extension on its credit line and reached a financial agreement with General Motors Co.
Home Depot Inc., up 82 cents at $26.93
Home Depot
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NYSE
Citigroup Inc., up 21 cents at $4.02
The bank said it planned to convert $33 billion of preferred shares into common stock to meet requirements of regulators' "stress test."
Dow Chemical Co., up $1.75 at $17.50
The chemical company will save millions on dividend payments after swapping out preferred shares used in its buyout of Rohm & Hass. Fannie Mae, down 2 cents at 86 cents
The mortgage finance company will need $19 billion more in government aid and warned that even that may not be enough to keep it solvent.
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