DES MOINES, Iowa (AP) ¿ Shares of investment manager Waddell & Reed Financial Inc. fell Wednesday after the company's strong recent stock performance led to a downgrade based on valuation.

NEW YORK (AP) ¿ Shares of bad-debt collector Portfolio Recovery Associates Inc. jumped nearly 8 percent in thin trading Wednesday after an analyst upgraded the stock to "Buy" from "Neutral," saying he expected the company to report solid operating profit later this month.

MILWAUKEE (AP) ¿ Shares of wine and spirits maker Constellation Brands Inc. fell on Wednesday after the company announced it narrowed its fourth-quarter loss but still failed to meet analyst expectations.

HARTFORD, Conn. (AP) ¿ Shares of Alcoa Inc. advanced Wednesday as two analysts said the aluminum manufacturer is making progress cutting costs even as it reported a first-quarter loss due to the weak economy and falling prices and demand.
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