Sears, Avon, Chesapeake Energy are market movers

[May 02, 2012]  NEW YORK (AP) -- Stocks that moved substantially or traded heavily Tuesday on the New York Stock Exchange and Nasdaq Stock Market:

NYSE

Chesapeake Energy Corp., up $1.16 at $19.60

Aubrey McClendon gave up his title as chairman of the oil company following a loan controversy. He will remain as chief executive.

Avon Products Inc., down $1.73 at $19.87

The beauty products seller's first-quarter profit dropped 82 percent, hurt by a bigger restructuring charge and higher costs.

Archer Daniels Midland Co., up $2.19 at $33.02

The agribusiness conglomerate said its fiscal third-quarter profit fell 31 percent, but its adjusted earnings beat expectations.

Domino's Pizza Inc., down $3.50 at $34.31

The pizza-delivery chain said its first-quarter profit fell 24 percent, hurt by lower revenue. It missed analysts' expectations.

Abercrombie & Fitch Co., up $2.85 at $53.02

Analysts from both Citi and UBS Investment Research said they think the teen retailer's business is improving in Europe.

Nasdaq

Sears Holdings Corp., up $8.27 at $62.05

The retailer said it expects to post a first-quarter profit because of a large gain from the sale of some U.S. and Canadian stores.

SunPower Corp., up 44 cents at $6.05

A Citi Investment Research analyst upgraded shares of the solar panel maker saying that the solar industry is nearing a bottom.

P.F. Chang's China Bistro Inc., up $11.79 at $51.48

The restaurant chain is being taken private by private equity firm Centerbridge Partners in a $1.09 billion deal.

[Associated Press]

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