Pulte Homes, Merck, Garmin Are Big Movers
The Associated Press
NEW YORK (AP) ¿ The following stocks were among those that moved substantially or traded heavily Wednesday on the New York Stock Exchange:
Pulte Homes Inc., up 32 cents at $9.55Pulte lost $361.4 million in the third quarter, but with the acquisition of Centex Corp., new orders increased by more than a third. Ambac Financial Group Inc., up 39 cents at $1.50 The bond insurer posted a quarterly profit as it realized gains in its credit derivatives portfolio and from reinsurance cancellations. Merck & Co., up $1.97 at $32.64 The maker of vaccines and cholesterol and diabetes drugs closed its acquisition of Schering-Plough Corp. for $41.1 billion. Kraft Foods Inc., down 87 cents at $26.67 Kraft said it's still interested in acquiring Cadbury PLC but plans to deliver solid results with or without the British candy maker. Aetna Inc., up $1.39 at $28.01 The Senate's top Democrat signaled that Congress may miss a year-end deadline for passing health care legislation. NASDAQ: Stec Inc., down $9.01 at $14.14 The data storage device maker gave a weak outlook for the rest of the year as investors fretted about rising competition. Garmin Ltd., down $4.57 at $26.84 The navigational device maker reported a 24 percent increase in third-quarter profit as lower costs offset a drop in sales. Pacer International Inc., up $1.35 at $4.06 The logistics service provider announced a surprise profit in the third quarter and a new contract with railroad Union Pacific.
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