General Electric, Kraft, Atheros, Harley-Davidson, Hecla Mining are among big market movers
By APTuesday, September 8, 2009
GE, Kraft, Atheros, Harley-Davidson big movers
NEW YORK — The following stocks were among those that moved substantially or traded heavily Tuesday on the New York Stock Exchange and Nasdaq Stock Market:
NYSE:
General Electric Co., up 63 cents at $14.50
J.P. Morgan analysts upgraded the industrial conglomerate to “overweight” despite worries over loss provisions at its financing unit.
Kraft Foods Inc., down $1.65 at $26.45
Candy maker Cadbury PLC rejected the food maker’s $16.7 billion takeover offer, and analysts say a bidding war could be in store.
Cadbury PLC, up $14.42 at $51.88
U.S.-traded shares roared to a 12-month high after the candy maker rejected a takeover offer from Kraft Foods Inc. as too low.
Hecla Mining Co., up 29 cents at $3.74
A rally in silver futures and gold prices hitting an 18-month high around $1,000 an ounce helped boost the precious metal miner’s shares.
MEMC Electronic Materials Inc., down 61 cents at $15.98
A production disruption at a Texas plant will hurt sales during the silicon wafer maker’s third quarter, and it cut its guidance.
Harley-Davidson Inc., up $1.73 at $25.02
A Citigroup analyst upgraded the motorcycle manufacturer to “hold,” saying sales declines moderated throughout the summer.
NASDAQ:
Atheros Communications Inc., down 55 cents at $27.43
The chip maker is buying Intellon Corp. for $244 million in cash and stock, and raised its guidance for the third quarter.
Osiris Therapeutics Inc., down $4.18 at $8.03
A stem-cell drug candidate failed two late-stage clinical trials, and Osiris will meet with the FDA to discuss the drug’s future.
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