Bear Stearns, Tiffany Big Market Movers
posted 2:04 pm Mon March 24, 2008 - NEW YORK
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Stocks that were moving substantially or trading heavily Monday on the New York Stock Exchange and Nasdaq Stock Market:NYSEThe Bear Stearns Cos., up $6.21 at $12.17 JPMorgan Chase & Co. boosted its offer to $10 per share from a bargain price of $2, trying to soothe the ailing investment bank's shareholders.
Tiffany & Co., up $4.41 at $43.01
Strong demand worldwide caused the jewelry retailer to offer an adjusted fiscal 2008 profit and sales above expectations.
CIT Group Inc., up $4.49 at $14.12
The lender is in talks with banks overseas to obtain funding for its core lending business, according to a report.
Lehman Brothers Holdings Inc., down $1.20 to $47.45
An Oppenheimer analyst downgraded shares of the investment bank and said its geographically diversified business is unlikely to help significantly during the credit crunch.
Sherwin Williams Co., down 48 cents to $53.34
Soft domestic sales and higher raw material costs caused the paint maker to lower its fiscal first-quarter earnings outlook.
Walgreen Co., up $1.86 at $38.64
An 11 percent rise in prescription sales and lower costs helped lift fiscal second-quarter profit 5 percent.
Monsanto Co., up $7.86 at $104.99
A pullback in the stock price and a strong research and development pipeline caused a UBS analyst to upgrade the seed maker to "Buy."
NASDAQPalm Inc., up 37 cents at $5.09
Three analysts cut their price targets, after higher competition from Apple Inc. and Research in Motion Ltd. partly caused the smart phone maker's fiscal third-quarter loss.
Tiffany & Co., up $4.41 at $43.01
Strong demand worldwide caused the jewelry retailer to offer an adjusted fiscal 2008 profit and sales above expectations.CIT Group Inc., up $4.49 at $14.12
The lender is in talks with banks overseas to obtain funding for its core lending business, according to a report.
Lehman Brothers Holdings Inc., down $1.20 to $47.45
An Oppenheimer analyst downgraded shares of the investment bank and said its geographically diversified business is unlikely to help significantly during the credit crunch.
Sherwin Williams Co., down 48 cents to $53.34
Soft domestic sales and higher raw material costs caused the paint maker to lower its fiscal first-quarter earnings outlook.
Walgreen Co., up $1.86 at $38.64
An 11 percent rise in prescription sales and lower costs helped lift fiscal second-quarter profit 5 percent.
Monsanto Co., up $7.86 at $104.99
A pullback in the stock price and a strong research and development pipeline caused a UBS analyst to upgrade the seed maker to "Buy."
NASDAQPalm Inc., up 37 cents at $5.09
Three analysts cut their price targets, after higher competition from Apple Inc. and Research in Motion Ltd. partly caused the smart phone maker's fiscal third-quarter loss.
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