Smithfield Foods, Toll Brothers 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:

NYSE:

Macy's Inc., down $1.57 at $17.86

The department store's third-quarter loss shrunk on inventory controls and localization, while it raised its full-year outlook.

Toll Brothers Inc., up $3.02 at $21.41

The luxury builder said buyers signed 42 percent more contracts for new homes in its fourth fiscal quarter, though revenue was lower.

Semiconductor Manufacturing International Corp., up $1.46 at $3.88

The company agreed to pay $200 million to settle a legal dispute with rival Taiwan Semiconductor Manufacturing Co.

Cytec Industries Inc., down $1.29 at $35.52

An analyst urged investors to sell the specialty chemical maker's stock, citing expectations for an unfavorable outlook.

Reed Elsevier, down $1.46 at $30.95

The CEO resigned by mutual agreement after just eight months on the job, the publishing and information company announced.

Smithfield Foods Inc., up $1.49 at $17.12

A Deutsche Bank analyst upgraded the nation's largest hog producer and pork processor on restructuring efforts.

NASDAQ:

Sun Microsystems Inc., up 32 cents at $8.47

Fitch Ratings lowered its outlook after European regulators objected to Oracle Corp.'s plans to take over the company.

Sigma Designs Inc., down $1.20 at $11.14

An analyst downgraded the chip maker on signs that it's losing greater-than-expected market share to rival Broadcom Corp.