Best Buy, Movado, Sears are market movers

[March 30, 2012]  NEW YORK (AP) -- Stocks that moved substantially or traded heavily Thursday on the New York Stock Exchange and Nasdaq Stock Market:

NYSE

Best Buy Co. Inc., down $1.85 at $24.77

The electronics retailer posted a fiscal fourth quarter loss and said that it plans to close 50 of its big box stores in 2013.

Movado Group Inc., up $2.16 at $24.43

The watch maker returned to profitability in its fiscal fourth quarter, declared a special cash dividend and raised its regular dividend.

Red Hat Inc., up $10.04 at $61.43

The software company reported that its fiscal fourth-quarter profit rose 7 percent thanks in part to higher subscription revenue.

The Mosaic Co., down $2.95 at $55.27

The fertilizer and feed ingredient maker said that its fiscal third-quarter net income fell nearly 50 percent due to higher costs.

Nasdaq

Deer Consumer Products Inc., up $1.41 at $4.59

The Chinese company, which make blenders and juicers, said that its full-year net income rose 31 percent on higher sales in China.

Chelsea Therapeutics International Ltd., down $1.05 at $2.62

The Food and Drug Administration did not approve the pharmaceutical company's drug Northera and asked for an additional study.

Sears Holdings Corp., down $1.44 at $67.55

The New York Post reported that the retailer, which owns Kmart and Sears stores, may sell its mail-order business Lands' End.

MAP Pharmaceuticals Inc., down 94 cents at $15.25

The migraine headache drug maker posted a larger fourth-quarter loss than expected and said it will restate the rest of its 2011 results.

[Associated Press]

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.