GM, Staples, Abercrombie & Fitch are market movers

[May 17, 2012]  NEW YORK (AP) -- Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and Nasdaq Stock Market:

NYSE

General Motors Co., up 49 cents at $21.91

Warren Buffett's Berkshire Hathaway Inc. disclosed in regulatory filings that it bought 10 million shares of the automaker's stock.

Abercrombie & Fitch Co., down $5.90 at $39.50

Declining sales in established stores and in Europe pushed the teen retailer's first-quarter net income down 88 percent.

Chico's FAS Inc., up 55 cents at $15.21

The women's clothing store chain said that its fiscal first-quarter net income climbed 17 percent as shoppers spent more money.

Skechers USA Inc., down 42 cents at $17.85

The shoe maker will pay $40 million to settle charges of unfounded claims that its Shape-ups shoes could help people lose weight.

Eagle Materials Inc., down $1.69 at $33.26

The building materials maker said it returned to profitability in its fiscal fourth quarter as revenue climbed 22 percent.

Southwest Airlines Co., up 14 cents $8.21

The airline said that it is doubling its buyback program to $1 billion and raising its quarterly dividend to 1 cent per share.

Nasdaq

Staples Inc., down 84 cents at $13.91

The office supplies retailer said that its first-quarter net income fell 6 percent due to costs related to job cuts.

THQ Inc., down 7 cents at 61 cents

The maker of "WWE" and "Darksider" video games posted a loss in its fourth quarter as the company restructured its business.

[Associated Press]

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