Friday, January 11, 2013 4:56 pm
Best Buy, Nokia, J.C. Penney are market movers
The Associated Press
Best Buy Co. Inc., up $2 at $14.21
The electronics chain reported improved holiday sales online and showed signs of turning around falling sales in its stores.
J.C. Penney Co. Inc., down 89 cents at $18.26
A UBS analyst downgraded the retailer's stock to "Sell," citing cash worries and a deteriorating earnings outlook.
The Boeing Co., down $1.93 at $75.16
The Federal Aviation Administration ordered a comprehensive review of critical systems on Boeing's 787 planes.
Infosys Ltd., up $8.27 at $52.22
The outsourcing firm posted a smaller-than-expected drop in quarterly profit, and the company raised its annual revenue forecast.
KBR Inc., down $2.52 at $29.48
The engineering company and contractor cut its 2012 net income forecast and issued a disappointing outlook for the current year.
Aeropostale Inc., down 86 cents at $12.38
Shares of the teen retailer continued to fall, a day after the company said that sales during the holiday shopping season declined.
Nokia Corp., up 25 cents at $4.70
Shares of the phone maker continued to rise after the company said that its fourth-quarter sales exceeded its own expectations.
Pacific Sunwear of California Inc., up 4 cents at $1.90
The surf-and-skate-inspired retailer reported a 1 percent increase in a key revenue metric from a year ago during the holiday season.