Best Buy, Gamestop, Netflix Among Big Movers
NEW YORK (AP) â¿¿ Stocks that moved substantially or traded heavily Tuesday on the New York Stock Exchange and Nasdaq Stock Market:
Best Buy Co., down $2.49 at $38.56
The company's profit edged up 1 percent but fell far short of what analysts were expecting as shoppers spent less.Gamestop Corp., down $1.17 at $20.71 Best Buy Co. said it would start a trade-in program for used games this summer, entering the niche market. Callaway Golf Co., down 63 cents at $6.97 The golf company said it anticipates second-quarter results well below expectations on the slow economic recovery. Patriot Coal Corp., down 37 cents at $16.51 The company said second-quarter results will be hurt on suspended production at a West Virginia mine where a major roof collapsed. NASDAQ: Netflix Inc., down $3.31 at $123.50 An analyst downgraded the stock to "Hold" from "Buy," citing potential competition from Hulu.com. Dell Inc., up 91 cents at $14 Dell said it's working closely with OnLive Inc., a pioneer of on-demand instant play video games, to power its game service. Smart Balance Inc., down $1.24 at $3.91 The maker of butter-like spreads and other foods slashed its sales outlook on a weak economy and competitive pressure. Amylin Pharmaceuticals Inc., down 48 cents at $17.31 Amylins diabetes drug Bydureon topped rival Januvia in a study, but results showed it was on par with several other drugs.
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