CIT Group, Moody's, Darden Restaurants 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:

CIT Group Inc., down 99 cents at $1.21

The commercial lender is reportedly trying to craft an exchange that would cut its debt and offer bondholders an equity stake.

Ameriprise Financial Inc., up $3.99 at $36.33

Bank of America Corp. is selling Columbia Management's long-term asset management business to the financial planning services firm.

Darden Restaurants Inc., down $2.02 at $34.13

The owner of the Olive Garden and Red Lobster chains warned its fiscal 2010 profit will likely be within the lower half of its range.

Moody's Corp., down 35 cents at $20.46

Two former employees detailed allegations of misconduct at the big ratings firm as lawmakers took aim at the credit rating industry.

Nike Inc., up $4.61 at $64.70

The athletic shoe and clothing company<s profit was practically unchanged in its fiscal first quarter while revenue fell sharply.

Wyndham Worldwide Corp., up 11 cents at $16.32

An analyst maintained the hotel chain as a top pick on its appealing stock price, solid balance sheet and improving free cash flow.

NASDAQ:

Hoku Scientific Inc., up 82 cents at $2.96

Hoku will grant Tianwei New Energy Holdings Co. a majority stake in exchange for financing the construction of a production facility.

Iconix Brand Group Inc., down 3.33 at $12.47

The company lowered its full-year earnings forecast partly on the transition of the Rocawear women's license to a new licensee.

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