Bank of America, IBM, Hospira are market movers

[October 19, 2011]  NEW YORK (AP) -- Stocks that moved substantially or traded heavily Tuesday on the New York Stock Exchange and Nasdaq Stock Market:

NYSE

Bank of America Corp., up 61 cents at $6.64

The bank said it earned $6.2 billion in the third quarter thanks to accounting gains and the sale of a stake in a Chinese bank.

International Business Machines Corp., down $7.69 at $178.90

The technology company beat earnings forecasts, but it reported slightly lower third-quarter revenue than Wall Street had expected.

Hospira Inc., down $7.85 at $29.51

The medical device and supplies maker cut its full-year earnings guidance because of a production slowdown at a North Carolina plant.

Nasdaq

O'Charley's Inc., up 79 cents at $6.49

The restaurant operator sold and then leased back 50 restaurant properties and used the $103.8 million in proceeds to pay its debt.

Crocs Inc., down $10.49 at $16.15

The footwear maker cut its estimates and said it expects slower revenue growth because direct-to-consumer sales have slowed.

Coldwater Creek Inc., down 2 cents at $1.11

Due to weak traffic in its stores, the women's apparel maker said that it expects a wider-than-expected loss in the third-quarter.

Human Genome Sciences Inc., up $1.57 at $12.82

A British newspaper reported that there was speculation of drugmaker GlaxoSmithKline trying to buy the pharmaceutical company.

Franklin Electric Co. Inc., up $3.98 at $43.41

Standard & Poor's said that the groundwater and fuel pumping systems maker will be added to its S&P SmallCap 600 index.

[Associated Press]

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