The S&P 500's Biggest Movers

The S&P 500 managed to close last week 2.5% higher, to 1,091.60, amid mixed data on the U.S. consumer and easing concerns about the global recovery.

Pops and drops
Here are the five biggest S&P 500 winners and the five biggest S&P 500 losers of last week (measured Friday close to Friday close):

Winners:

Source: Capital IQ (a division of Standard & Poor's).

Losers:

Source: Capital IQ (a division of Standard & Poor's).

A closer look
Shares of Gannett roared last week, after the country's largest newspaper publisher said it expects second-quarter earnings to clock in at the high end of guidance. Company executives reaffirmed expectations for an increase in ad revenue from broadcasting operations. However, revenue from publishing, which accounts for nearly 50% of Gannett's total revenue, is expected to slip in the "low to mid-single digits" for the quarter. Still, that compares with an 8% decline in the first quarter and an 18% fall in the last quarter of 2009. On the bright side, the increase on the broadcast side is an encouraging sign about the economy.

On the downside last week, both shares of CVS Caremark and Walgreen lost ground after CVS Caremark said it would no longer include Walgreen in its pharmacy benefits network. That means patients with prescriptions through CVS Caremark will no longer be able to pick them up from Walgreen stores. CVS' Caremark move comes on the heels of Walgreen's announcement that it will no longer participate in CVS Caremark's drug benefits unit, in the wake of sparring over reimbursement rates and Caremark's policies. Read here for more.

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