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Wal-Mart, Wendy's among big market movers

By Associated Press May 13, 2008 Comments (0)

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

NYSE

Wal-Mart Stores Inc., down $1.37 at $56.65

Higher energy and food costs caused the world's largest retailer to forecast second-quarter profit mostly below expectations.

Wendy's International Inc., up 43 cents at $27.11

The hamburger chain's incoming chief executive forecast job cuts, following its purchase by Arby's owner Triarc Companies Inc.

Hewlett-Packard Co., down $2.56 at $44.27

The computer and printer maker is buying Electronic Data Systems Corp. for $12.6 billion, or $25 per share, to expand its service business.

Bank of America Corp., down 83 cents at $36.61

The country's second-largest bank forecast higher losses in its home equity portfolio, but remains on track to close its purchase of Countrywide Financial Corp.

TJX Cos., down $1.49 at $30.65

Investors expected more from the discount retailer, after first-quarter revenue missed Wall Street expectations.

Liz Claiborne Inc., up 38 cents at $18.75

Adjusted profit and sales came in better than expected, as a 16 percent rise in international sales offset flat domestic sales.

Fluor Corp., up $24.67 at $191.03

Quarterly profit soared 63 percent, as the engineering and construction contractor won a number of new projects.

NASDAQ

Iomai Corp., up $3.42 at $6.34

Vaccine developer Intercell AG is buying the biotechnology company for $189 million, or $6.60 per share, to expand its late-stage pipeline.

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