KB Home, Nike, Darden are market movers

[March 24, 2012]  NEW YORK (AP) -- Stocks that moved substantially or traded heavily Friday on the New York Stock Exchange and Nasdaq Stock Market:

NYSE

KB Home, down 95 cents at $10.29

The homebuilder said cancellations on new home contracts spiked in its fiscal first quarter, driving home orders down 8 percent.

Darden Restaurants Inc., down 91 cents at $50.92

The operator of the Olive Garden restaurants said that its fiscal third-quarter profit rose, but customers were still spending cautiously.

Monster Worldwide Inc., up 73 cents at $10.22

A Robert W. Baird analyst upgraded the job posting company's rating saying that its international investments should pay off.

Nike Inc., down $3.57 at $107.42

The maker of athletic shoes and clothing reported better-than-expected third-quarter results, but its gross profit margin declined.

Nasdaq

The Wet Seal Inc., down 27 cents at $3.28

The teen retailer said fourth-quarter sales fell compared with a year ago and it issued guidance below analysts' expectations.

Medidata Solutions Inc., up $2.61 at $27.51

A Jefferies analyst upgraded shares of the maker of software and services for clinical development of drugs to "Buy" from "Hold."

Perry Ellis International Inc., down 55 cents at $17.88

The clothing company said that it will cut jobs and close some less profitable brands to help it turn around its business.

Layne Christensen Co., down 47 cents at $21.96

The drilling company said U.S. authorities are reviewing whether overseas payments violated anti-bribery laws.

[Associated Press]

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