Kellogg, Saks, ING are big market movers

[November 04, 2011]  NEW YORK (AP) -- Stocks that moved substantially or traded heavily Thursday on the New York Stock Exchange and Nasdaq Stock Market:

NYSE

Saks Inc., down 12 cents at $10.83

The department store chain said that same-store sales rose 1.8 percent in October, below the 5.4 percent rise analysts expected.

ING Groep NV , up 86 cents at $8.61

The European bank will cut 2,000 jobs due to the eurozone financial crisis, despite remaining profitable in the third quarter.

Kellogg Co., down $4.13 at $49.91

The maker of Frosted Flakes cereal and Eggo waffles said that its third-quarter net income dropped 14 percent as costs rose.

Aeropostale Inc., up $2.76 at $17.08

The teen retailer said that it expects to earn more than analysts expect in the third quarter due to careful inventory management.

CVS Caremark Corp., up $1.54 at $37.31

The drugstore operator said that its third-quarter earnings rose 7 percent, thanks to a long-term contract and recent acquisitions.

Abercrombie & Fitch Co., down $14.75 at $59.26

The teen retailer said overseas growth slowed in the third quarter, even as revenue at stores open at least a year increased.

Nasdaq

IAC/InterActiveCorp., up $1.98 at $41.56

The internet company, which owns dating site Match.com, said its third-quarter profit rose and it declared a dividend of 12 cents.

Hot Topic Inc., down 73 cents at $7.02

The teen retailer lowered its third-quarter earnings estimates after seeing disappointing sales of Halloween-related merchandise.

[Associated Press]

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