Big Movers in the Stock Market
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NEW YORK (AP) _ Stocks that were moving substantially or trading heavily Wednesday on the New York Stock Exchange and Nasdaq Stock Market.
Deere & Co., down $1.16 at $45.22
Goldman Sachs lowered its rating on Deere shares to ``market underperform″ from ``market perform.″
Dow Jones & Co. Inc., down $1.86 at $51.26
Dow Jones warned that its second-quarter earnings will miss analysts’ expectations of 28 cents a share. The company said advertising for The Wall Street Journal fell 24 percent in May.
Dollar General Corp., up 47 cents at $17.52
Morgan Stanley raised its recommendation on retailer Dollar General stock to ``overweight″ from ``underweight.″
Univision Communications Inc., down $5.84 at $31.86; Hispanic Broadcasting Corp., up $1.55 at $26.00
Univision, the nation’s leader in Spanish-language television, is buying radio concern Hispanic Broadcasting for about $3.5 billion in stock. Hispanic Broadcasting’s 55 radio stations reach 60 percent of U.S. Hispanic homes.
Leap Wireless International Inc., down .31 cents at $1.68
Bear Stearns lowered its rating on Leap Wireless to ``neutral″ from ``buy.″
PeopleSoft Inc., down $1.12 at $19.55
SunTrust cut its rating on the maker of human resources software to ``neutral″ from ``outperform.″
Chattem Inc., up $3.52 at $33.90
Chattem, which makes such over-the-counter medical products as Aspercreme and Flexall, raised its second-quarter forecast. The company now expects earnings of 56 cents to 58 cents a share.