Citigroup, MetLife, Clearwire are market movers

[March 15, 2012]  NEW YORK (AP) -- Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and Nasdaq Stock Market:

NYSE

Citigroup Inc., down $1.24 at $35.21

The bank failed the Federal Reserve's stress test. The Fed said that Citigroup does not have enough capital to raise its dividend.

American Express Co., up $1.90 at $56.15

The New York-based credit card company said that it plans to raise its quarterly dividend to 20 cents per share from 18 cents.

MetLife Inc., down $2.30 at $37.16

The Federal Reserve said that the New York-based insurance company was one of four banks that failed its so-called stress test.

Cliffs Natural Resources Inc. Co., up $4.59 at $69.50

The Cleveland-based mining company said that it will more than double its quarterly dividend to 62.6 cents from 28 cents.

Nasdaq

Clearwire Corp., up 5 cents at $2.19

The wireless broadband network operator said it signed Cricket cell service parent Leap Wireless as a customer for its new network.

Francesca's Holdings Corp., up $2.51 at $29.29

The women's clothing chain said that profit in the fourth quarter nearly doubled and it issued a better-than-expected outlook.

Books-A-Million Inc., up 38 cents at $3.53

The book seller named a new CEO and said its fourth-quarter profit rose as it opened 41 new stores.

Pacific Sunwear of California Inc., down 47 cents at $2.04

The retailer of surf- and skate-inspired apparel said its fourth-quarter loss widened as it struggled to boost sales.

[Associated Press]

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