GM, Bristol-Myers, AK Steel are big movers
By
Associated Press
March 30, 2009
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Stocks that moved substantially or traded heavily Monday on the New York Stock Exchange and Nasdaq Stock Market:
NYSE
General Motors Corp., down 92 cents at $2.70.
President Obama said GM and Chryslers restructuring plans were too little too late, and he set deadlines for cutting off aid.
Bristol-Myers Squibb Co., up 36 cents at $21.02.
A potential blockbuster diabetes drug appears free from heart-related side effects that plagued similar treatments.
AK Steel Holding Corp., down 93 cents at $7.04.
Steel producers slid on fresh evidence that prices for several types of the commodity have fallen and may continue to fall.
Lincoln National Corp., down $3.96 at $6.41.
The insurer late last week withdrew an application for government funding guarantees. Credit Suisse also downgraded shares.
NCR Corp., down $1.63 at $7.99.
A Baird analyst downgraded the ATM maker to "neutral" from "outperform," as banks are expected to spend less on the machines.
Manitowoc Co., down $1.54 at $3.07.
The maker of cranes said it no longer expects to meet previous guidance for full-year earnings and sales due to poor demand.
Bank of America Corp., down $1.31 at $6.03. Bank stocks retreated amid fresh concerns that financial firms will need more capital to weather the ongoing credit crisis.
NASDAQ
Layne Christensen Co., down $2.85 at $16.58.
The drilling and construction company said it fell to a quarterly loss as mineral exploration revenue dropped by nearly half.