Smithfield, Tesla, Affymax are big market movers

[December 09, 2011]  NEW YORK (AP) -- Stocks that moved substantially or traded heavily Thursday on the New York Stock Exchange and Nasdaq Stock Market:

NYSE

Smithfield Foods Inc., down 92 cents at $24.01

The St. Louis-based pork producer said that its fiscal second-quarter earnings slid 16 percent, as feed and other costs climbed.

Harvest Natural Resources Inc., down $1.04 at $7.73

The oil and gas company said it is closing and abandoning a well in Oman after failing to find any hydrocarbons in the well.

Nasdaq

DemandTec Inc., up $4.72 at $13.15

Technology company International Business Machines Corp. said it is buying the price-management software company for $440 million.

Pacific Sunwear of California Inc., up 14 cents at $1.49

The surf and skate-inspired clothing retailer said it will try to improve its finances by closing up to 200 underperforming stores.

Tesla Motors Inc., down $3.30 at $30.89

A Morgan Stanley analyst cut his rating for the electric car company citing a weak consumer interest for electric vehicles.

Affymax Inc., up $2.12 at $7.98

A Food and Drug Administration panel voted in favor of the biotech drugmaker's experimental treatment for patients with anemia.

G-III Apparel Group Ltd., up $3.66 at $24.02

The clothing and accessories manufacturer said that its profit edged higher in its fiscal third quarter thanks to stronger sales.

Ciena Corp., up 12 cents at $12.03

The network equipment maker posted a smaller net loss for its fiscal fourth quarter thanks to higher revenue and lower expenses.

[Associated Press]

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