Citi, Morgan Stanley, Arctic Cat are big movers

[December 29, 2011]  NEW YORK (AP) -- Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and Nasdaq Stock Market:

NYSE

Endeavour International Corp., up 97 cents at $8.91

Rodman & Renshaw upgraded the oil and gas company saying its shares may outperform in 2012 on strong production growth.

Medicis Pharmaceutical Corp., down 41 cents at $33.35

The pharmaceutical company cut its fourth-quarter outlook because of new supply deals it is negotiating for its acne drug Solodyn.

Molycorp Inc., down $3.96 at $24.04

Shares of the rare earth producer fell after China cut its rare earths export quota in an attempt to raise sagging exotic metal prices.

Morgan Stanley, down 39 cents at $14.90

The investment bank said that of the 1,600 job cuts announced earlier this month, 580 of them will be at its home base in New York.

Citigroup Inc., down 77 cents at $26.13

The bank is selling its Belgian consumer business to Credit Mutuel Nord Europe as it sells off operations outside its core business.

Hyperdynamics Corp., up 11 cents at $2.33

The oil and gas company said that it will resume drilling operations in offshore Guinea after experiencing mechanical issues in mid-December.

Nasdaq

Arctic Cat Inc., up $3.94 at $22.93

The snowmobile and all-terrain vehicle maker said that it purchased all of its shares that Suzuki Motor owned for $79.3 million.

Cavium Inc., down 34 cents at $28.14

The chipmaker said fourth-quarter results will be below its previous outlook due to weaker revenue in some of its business units.

[Associated Press]

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