SanDisk, Acuity, Dynegy are market movers

[April 05, 2012]  NEW YORK (AP) -- Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and Nasdaq Stock Market:

NYSE

Acuity Brands Inc., down $6.15 at $57.50

The lighting maker's second-quarter net income fell due to higher costs related to job cutting in Spain and the closing of a U.S. plant.

Dynegy Inc., down 13 cents at 39 cents

The utility reached an agreement with creditors that will allow it to file bankruptcy proceedings for one of its subsidiaries.

GMX Resources Inc., up 30 cents at $1.55

The oil and gas producer said that a well drilled in North Dakota was producing at a 50 percent higher rate than a nearby well.

St. Jude Medical Inc., down $2.13 at $41.67

The medical device maker said that it will stop selling two wires used in heart failure devices because some were defective.

Hovnanian Enterprises Inc., down 20 cents at $2.15

The Red Bank, N.J.-based homebuilder said that it expects to offer 25 million of its common shares to the public.

Nasdaq

Allegiant Travel Co., up $3.31 at $60.33

A Raymond James analyst upgraded his rating on the airline's shares saying that a new carry-on bag fee may help its earnings.

G&K Services Inc., up $2.23 at $36.93

The uniform maker declared a special dividend and raised its quarterly dividend saying that its recent growth plan is working.

SanDisk Corp., down $5.54 at $44.51

The memory chip maker cut its first-quarter revenue expectations because of weaker demand and lower prices.

[Associated Press]

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