Bank Of America, Time Warner, CIT Group Big Movers
The Associated Press
NEW YORK (AP) ¿ The following stocks were among those that moved substantially or traded heavily Friday on the New York Stock Exchange:
Bank of America Corp., up 13 cents at $16.34The bank's board authorized a dividend payment on preferred stock issued to the Treasury Department as part of last year's rescue plan. Time Warner Inc., down 40 cents at $29.63 CEO Jeff Bewkes said an investment in NBC Universal doesn't make sense for his company, strengthening the hand of Comcast Corp. CIT Group Inc., up 11 cents at $1.17 CIT launched a debt restructuring effort but also wants approval of a prepackaged plan in case it files for bankruptcy protection. Accenture PLC, up 97 cents at $37.50 An analyst added the consulting and outsourcing firm to the "Conviction Buy List" on its plans to return more cash to shareholders. ConocoPhillips, up $1.30 at $46.80 The oil company said performance of its exploration and production division may be hurt by weak North American natural gas prices. PepsiCo Inc., up $2.44 at $60.90 Deutsche Bank raised its 2010 estimate on PepsiCo based on lower projections for the cost of interest and for depreciation. Winnebago Industries Inc., down $1.19 at $13.20 An analyst downgraded shares on concerns the nation's top motor home maker will struggle to earn money next year. NASDAQ: Resources Connection Inc., up 25 cents at $17.15 The accounting and finance staffing company posted a fiscal first-quarter loss, widely missing Wall Street expectations.
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