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Pandora and General Mills are big market movers

  • Associated Press
  • August 16, 2013 - 3:40 PM

NEW YORK — Stocks that moved substantially or traded heavily Friday on the New York Stock Exchange and the Nasdaq Stock Market:

NYSE

J.C. Penney Co. Inc., down 43 cents to $13.40

A regulatory filing revealed that the retailer has cleared the way for former board member and activist investor Bill Ackman to sell his substantial holdings in the company after a very public confrontation last week.

Pandora Media Inc., up 49 cents to $20.34

The online music service last week reported a 17 percent increase in June listener hours and it got an upgrade from Goldman Sachs.

Nordstrom Inc., down $2.90 to $56.43

The department store cut its profit outlook for the year late Thursday, adding to the gloom in the retail sector due to consumers' reluctance to spend.

General Mills Inc., down $1.17 to $49.38

Jefferies & Co. issued a downgrade, citing concerns that the company best know for its Cheerios, Betty Crocker and Yoplait brands is not advertising aggressively.

PulteGroup Inc., up 37 cents to $16.28

Homebuilders' stocks rallied after the government reported that developers broke ground on new homes at a faster clip last month.

Nasdaq

First Solar Inc., up 53 cents to $38.16

The entire solar sector is getting a lift from better-than-expected earnings and improved outlooks from some of the industry's biggest companies, as well as rising orders in Japan and the U.S.

Applied Materials Inc., up 30 cents to $15.62

New management and a bullish outlook for chip makers brings an upgrade from DA Davidson, after the company beat revenue expectations in its latest quarter.

Jos. A Bank Clothiers Inc., down $3.10 to $41

The retailer warned late Thursday that its second-quarter profit and revenue may fall short of market expectations.

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