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Toyota, Best Buy among big market movers

By Associated Press May 8, 2008 Comments (0)

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Stocks that are moving substantially or trading heavily Thursday on the New York Stock Exchange and the Nasdaq Stock Market:

NYSE

Toyota Motor Corp., down $4.20 at $100.56

The automaker said weak sales pulled first-quarter profit down 28 percent, and that it expected annual profit to drop for the first time in seven years.

Best Buy Co., down $1.40 at $42.05

It will pay $2.1 billion for a 50 percent stake in Europe's largest cell phone retailer, the Carphone Warehouse.

Cablevision Systems Corp., up $1.01 at $24.76

Losses from derivative contracts helped widen its first-quarter loss, but the New York cable-TV provider's revenue rose 10 percent.

Wal-Mart Stores Inc., up 33 cents at $57.16

It said sales of groceries and flat-screen TVs helped April same-store sales beat analyst expectations.

Wachovia Corp., down 88 cents at $27.83

Shares fell, even an analyst upgraded the bank after meeting with management, and said it is focused on surviving the credit crunch.

NASDAQ

Hansen Natural Corp., down $5.46 at $30.14

Sales of its Monster energy drink boosted profit 43 percent, but results still missed analyst expectations.

Crocs Inc., up $1.44 at $11.40

The shoe maker said high charges from closing a Canadian plant fueled a first-quarter loss, but it beat analyst expectations.

Energy Conversion Devices Inc., up $15.10 at $49.91

The alternative energy company turned a fiscal third-quarter profit and guided its fiscal fourth-quarter mostly above analyst expectations.

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Best Buy Co., Inc.

BBY Up! $41.13 +0.33 (+0.81%) 11:48 AM
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Updated: 11:53:48 AM
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