Stocks in the News: Palm, CIGNA, Teva, Borders
Best Buy (BBY) increased 1.3%, or 54 cents per share, after analysts boosted their ratings for the retailer from neutral to buy on indications it could benefit from an economic recovery.
Google (GOOG) sunk 1%, or $6.37 per share, as reports surfaced this week that the Internet search engine will exit the China market by the end of next month.
Palm (PALM) shares sunk to a 52-week low after the smart-phone maker warned that its fourth-quarter revenues would be cut in half. The stock dropped 28.5%, or $1.61 per share.
Perry Ellis International's (PERY) better-than-expected earnings didn't affect its stock, which fell 9%, or $2.07 per share.
Ford's (F) stock price ended its climb Friday. The automakers' stock fell 3%, or 44 cents per share. Earlier this week, Ford hit a five-year high.
Pfizer (PFE) fell nearly 2%, or 32 cents per share, after its attempt to buy a generic drug company, Ratiopharm Group International, failed. It was outbid by drug-maker Teva Pharmaceuticals (TEVA), which finished up 1.6%, or $1.02 or per share, touching a 52-week high during trading.
PolyOne (POL), which makes plastic construction products, rose 15%, or $1.39 per share, after forecasting earnings above estimates based on increasing demand and new business.
Bank of America (BAC) shares fell 1.5%, or 26 cents a share, after analysts cut estimates.
Borders Group (BGP), a book retailer, fell 17%, or 39 cents a share. The stock rose earlier this week on news of rival Barnes & Noble's (BKS) new CEO.
Health care stocks got a boost from this weekend's pending vote on a national health care overhaul bill. UnitedHealth Group (UNH) rose 2.35%, or 79 cents a share. CIGNA (CI) rose 3.5%, or $1.24 per share.