AP News, August 24th, 2007
Stocks that were moving substantially or trading heavily Friday on the New York Stock Exchange and Nasdaq Stock Market:
NYSE
Gap Inc., up $1.11 at $18.51.
The retailer said its fiscal second-quarter profit rose 19 percent, a reversal from seven consecutive quarters of earnings declines, as the company cut costs. The company, which also owns the Old Navy and Banana Republic chains, raised its earnings forecast for 2007.
Aeropostale Inc., up 12 cents at $23.24.
The teen retailer's third-quarter forecast fell below Wall Street's estimates. The company expects earnings of 43 cents per share to 45 cents per share, an increase over earnings of 41 cents per share in the third quarter of last year.
AnnTaylor Stores Corp., up $2.79 at $32.43.
The women's apparel retailer said Friday its second-quarter earnings fell 27 percent amid lower traffic and higher markdowns. The company said, however, it expects a "good" second half of the year and affirmed its earnings forecast.
NASDAQ
Marvell Technology Group Ltd., down $2.10 at $15.75.
The integrated circuit maker recorded a second-quarter loss due to steep charges. Marvell's gross margin forecast appeared to disappoint investors.
Biogen Idec Inc., up $2.92 at $62.89.
Federal antitrust regulators have cleared billionaire investor Carl Icahn's purchase of a stake in the biotech company, which focuses on developing cancer and immunotherapy drugs.
Whole Foods Market Inc., up $1.20 at $44.54; Wild Oats Markets Inc., up 39 cents at $18.46.
A federal appeals court cleared the way for Whole Foods to buy rival organic grocer Wild Oats. A three-judge panel of the U.S. Court of Appeals for the District of Columbia Circuit denied a request by the Federal Trade Commission to delay the $565 million sale pending the outcome of an appeal.
