Hertz and Sears are big market movers
- Associated Press
- March 17, 2014 - 3:35 PM
NEW YORK — Stocks that moved substantially or traded heavily Monday on the New York Stock Exchange and the Nasdaq Stock Market:
Lorillard Inc., up 41 cents to $52.27
Goldman Sachs upgraded the cigarette maker, citing reduced short-term regulatory risk, lower costs and amplified share buybacks.
Hertz Global Holdings Inc., up $1.24 to $27.22
The Financial Times reported that the car rental company may spin off its construction equipment business for $4.5 billion.
United Parcel Service Inc., up 72 cents to $96.99
The shipping company announced a 4.4 percent freight shipping-rate hike, which is more than an increase announced by rival FedEx.
Chesapeake Energy Corp., down 34 cents to $24.69
The natural gas producer said it may spin off its oilfield services division.
Yahoo Inc., up $1.51 to $39.11
China's Alibaba Group, of which the search engine owns a 24 percent stake, is going public, possibly raising up to $15 billion.
JA Solar Holdings Co. Ltd., up 24 cents to $11.66
Big subsidies in Japan and rising activity in China pushed the solar energy company to its first profit in more than two years.
Five Prime Therapeutics Inc., up $4.24 to $22.99
Bristol-Myers Squibb is teaming with the biotechnology company to work on experimental immune therapies for cancer.
Sears Holdings Corp., up 83 cents to $44.84
The department store approved the separation of its Lands' End division and will begin distribution of that stock on March 24.
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