Morgan Stanley, CIT Group are among big movers
From AP Features | 2008-12-17 21:05:17
<div><p>Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange:</p><p>NYSE</p><p>Morgan Stanley, up 37 cents at $16.50</p><p>The banking firm posted a quarterly loss of $2.37 billion, or $2.34 per share, but its stock rebounded after early losses.</p><p>CIT Group Inc., down 17 cents at $4.48</p><p>The finance company said it would raise $250 million through a stock offering as it seeks to tap federal rescue funds.</p><p>General Mills Inc., up 10 cents at $61.35</p><p>The cereal maker said quarterly profit slipped 3 percent, but adjusted results beat expectations on lower costs.</p><p>Constellation Energy Group Inc., down $5.74 at $23</p><p>The energy company will sell half its nuclear power business to French state-controlled power company EdF for $4.5 billion.</p><p>Newell Rubbermaid Inc., down $3.60 at $9.58</p><p>The Sharpie maker slashed fourth-quarter and full-year profit guidance, citing the downturn in the global economy.</p><p>Western Digital Corp., up 22 cents at $12.72</p><p>The hard drive maker said it plans to cut about 5 percent of its work force in response to weakening demand for its products.</p><p>Aetna Inc., down 38 cents at $24.42</p><p>The managed-care company will cut 1,000 jobs, or nearly 3 percent of its staff, to reduce costs and adjust to the slow economy.</p><p>NASDAQ</p><p>Apple Inc., down $6.27 at $89.16</p><p>The computer icon's CEO, Steve Jobs, won't attend January's Macworld tradeshow, the company's last appearance at the event.</p><img src="http://admatch-syndication.mochila.com/images/ad.gif?aid=38868595&bid=informcom" /></div><div id="copyright"><div>
Copyright 2008 <a href="http://www.ap.org">AP Features</a></div></div>
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