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Macy's, Best Buy, Morgan Stanley among big movers



By AP
12 November 2008 @ 05:12 pm EST

NEW YORK - Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and the Nasdaq Stock Market:

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M 11.31 -0.38
BBY 29.55 -1.7
MS 18.1 -1.48
GM 4.13 0.19
TRI 28.24 -1.7
GOOG 322.01 -12.05
PLD 15.36 -0.84
JASO 4.21 -0.74

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NYSE

Macy's Inc., down $1.04 at $8.37

The retailer reported a third-quarter loss as sales fell more than 7 percent and said the holiday season would be a "nailbiter."

Best Buy Co., down $1.91 at $21.97

The electronics retailer slashed its fiscal 2009 outlook amid what it called the toughest retail environment it has ever seen.

Morgan Stanley, down $2.14 at $11.94

The bank plans to cut 10 percent of its institutional securities employees and 9 percent of the money-management group.

General Motors Corp., up 16 cents at $3.08

Shares rose as Congressional Democrats drafted legislation that would send rescue funds to the Detroit-based automakers.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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