Fannie Mae, IPCS, CIT Group, K12 Are Big Movers

The Associated Press

NEW YORK (AP) — The following stocks were among those that moved substantially or traded heavily Monday on the New York Stock Exchange:

NYSE:

Fannie Mae, down 32 cents at $1.14

An analyst downgraded Fannie Mae and Freddie Mac and said shares would be "worthless" given how much they owe the government.

Autoliv Inc., up $1.26 at $37.34

An analyst raised his price target and estimates for the Sweden-based maker of automotive air bags and seat belts.

CIT Group Inc., up 9 cents at $1.21

Billionaire investor Carl Icahn offered CIT Group a $6 billion lifeline to help the lender restructure its debt.

Motorola Inc., up 62 cents at $8.47

Verizon Wireless launched an aggressive ad campaign to promote a new Motorola phone that runs Google Inc.'s Android software.

K12 Inc., down 96 cents at $17.63

The online education provider announced the resignation of its CFO, who is also the chief operating officer.

DTE Energy Co., up $1.37 at $37.90

The Michigan utility raised its full-year earnings outlook on gains from one-time cost reductions, strong results and tax benefits.

BB&T Corp., down $1.22 at $27.03

The regional bank posted a sharp drop in third-quarter profit, the result of setting aside more money to cover bad loans.

NASDAQ:

iPCS Inc., up $6 at $23.88

Sprint Nextel Corp. agreed to buy the affiliated carrier that has repeatedly sued Sprint over contract terms, for $426 million in cash.