NEW YORK — Stocks that were moving substantially or trading heavily Tuesday on the New York Stock Exchange and Nasdaq Stock Market.
NYSE
IBM Corp., up $1.94 at $117.70
Merrill Lynch expressed concerns about the sustainability of the stock’s recent gains and suggested its advance may not last.
American Express Corp., down $1.93 at $41.30
Morgan Stanley downgraded the stock to “neutral” from “outperform” because of concerns about how the industry will be affected by rising bankruptcies and other credit problems.
Rite Aid Corp., up 95 cents at $8.10
The drug store chain reported a narrower-than-expected loss for the fourth quarter.
NASDAQ
Cisco Systems, up $1.12 at $20.37 in regular trading; down 63 cents at $19.74 in extended trading
The networking company’s third-quarter results, which were released after the market closed, beat expectations, despite its first-ever net loss. Earlier in the day, before earnings were released, the stock was upgraded by Morgan Stanley to “outperform” from “neutral.”
Ciena Corp., up $6.32 at $61.60
The company’s optical switching and transport systems will be used in the Tycom Global Network in a two-year agreement valued at over $150 million.
Whole Foods Market Inc., up $3.79 at $50.89
The company reported stronger sales than expected for the second quarter.
