Best Buy, Wells Fargo, Qwest are big movers
The following stocks were among those that moved substantially or traded heavily Tuesday on the New York Stock Exchange and the Nasdaq Stock Market:
NYSE:
Best Buy Co., down $3.84 at $41.53
The electronics retailer said its earnings more than quadrupled, but predicted profit margins will be squeezed next quarter.
Wells Fargo & Co., up 17 cents at $25.66
Wells Fargo will sell stock for $25 per share to help repay $25 billion in government bailout money.
Weyerhaeuser Co., up 60 cents at $43.11
The forest products giant's board approved a conversion of the company into a real estate investment trust for certain tax benefits.
Qwest Communications International Inc., up 18 cents at $4.26
The phone company was upgraded by an analyst who cited the stock's attractive value and expectations for improving revenue.
Steak n Shake Co., up $1.31 at $13.11
The operator of casual dining restaurants reported a fiscal fourth-quarter profit on higher sales.
NASDAQ:
JA Solar Holdings Co. Ltd., up 46 cents at $5.76
The China-based solar cell maker said it plans to buy back up to $75 million of its American Depositary shares.
Array BioPharma Inc., up 53 cents at $2.78
The company struck a development deal with Amgen Inc. worth $60 million upfront for a potential type 2 diabetes treatment.
SunPower Corp., up 93 cents at $24.12
The company told investors its continuing internal investigation into accounting irregularities has showed no new problems.
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