Marathon Oil, Corning rise; Juniper Networks and Alcoa dip
NEW YORK (AP) — Stocks that moved substantially or traded heavily Tuesday on the New York Stock Exchange and the Nasdaq stock market:
Alcoa Inc., down 26 cents to $9.48
The aluminum producer's revenue was weaker than expected and Alcoa said it may cut even more jobs.
Juniper Networks Inc., down $1.83 to $23.06
The computer network equipment maker cut its quarterly projections because of weaker demand from some businesses and project delays from telecommunications customers.
Marathon Oil Corp., up $1.45 to $13.12
The oil company said it will sell its assets in Wyoming to Merit Energy for $950 million.
HP Inc., up 9 cents to $12.22
Market research firm IDC said personal computer sales continued to slump in the first quarter, and Dell surpassed HP in sales.
Corning Inc., up 21 cents to $20.83
A Goldman Sachs analyst upgraded the specialty glass maker's stock rating to "Buy" and said demand from television makers will improve.
Fastenal Co., down $1.60 to $45.34
The industrial and construction fastener maker gave up some of its recent gains after reporting solid first-quarter results.
Starbucks Corp., down $1.40 to $59.50
A Deutsche Bank analyst downgraded the coffee chain's stock to "Hold," saying it's trading at a fair price and investor expectations are high.
Horizon Pharma PLC, down $4.80 to $13.42
The drugmaker backed its guidance but investors were disappointed with its projections for the early part of the year.