Clearwire, Illumina, Best Buy are market movers

[October 08, 2011]  NEW YORK (AP) -- Stocks that moved substantially or traded heavily Friday on the New York Stock Exchange and Nasdaq Stock Market:

NYSE

Best Buy Co. Inc., up 51 cents at $24.77

A Caris & Co. analyst said that the electronic retailer's stock is a good buy during the holidays thanks to new product offerings.

Merck & Co. Inc., up 19 cents at $31.61

The drugmaker said it won U.S. approval for Juvisync, the first pill that will treat both diabetes and high cholesterol.

Sony Corp., down 87 cents at $18.25

The Wall Street Journal reported that the electronics maker may buy out Ericsson's stake in their mobile-phone joint venture.

Nasdaq

Clearwire Corp., down 66 cents at $1.39

Sprint Nextel Corp. said it will stop selling phones that use Clearwire's wireless broadband services at the end of next year.

Illumina Inc., down $12.75 at $27.18

The genetic analysis instrument maker suspended its revenue forecast because of an unexpected slump in equipment purchases.

AMC Networks Inc., down 7 cents at $32.63

The company, which owns the AMC and IFC cable channels, signed a multi-year licensing agreement with Netflix to stream its content.

AngioDynamics Inc., down 36 cents at $13.91

The medical device maker said its search for a new chief executive reduced the company's profit in the fiscal first quarter.

Smith & Wesson Holding Corp., up 14 cents at $2.78

The firearms maker said that it plans to sell off its perimeter security business to focus on its gun manufacturing business.

[Associated Press]

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