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[March 21, 2014]
Darden, Exelon, Nike are big market movers
(Associated Press Via Acquire Media NewsEdge) NEW YORK (AP) — Stocks that moved substantially or traded heavily Friday on the New York Stock Exchange and the Nasdaq Stock Market: NYSE Darden Restaurants Inc., up $1.36 to $50.66 Fourth-quarter revenue slipped 1 percent, hurt by a sales drop at its Red Lobster chain, which it has said it plans to sell or spin off.
Exelon Corp., up $1.18 to $32.55 Credit Suisse said the competitive power sector has reached a bottom and upgraded the energy provider to "Outperform." Media General Inc., up 10 cents to $17.44 The company is buying fellow TV broadcaster LIN Media in a deal worth about $1.6 billion in cash and stock.
Tiffany & Co., down 44 cents to $90.73 The jewelry company posted a loss for its fourth quarter, hurt by a charge tied to an unfavorable arbitration ruling.
Visa Inc., up $1.55 to $223.37 A federal appeals court handed card companies a victory when it ruled the Federal Reserve was authorized to cap debit card swipe fees.
Nike Inc., down $4.06 to $75.21 Nike said strong global demand for its athletic goods helped third-quarter profit, but investors were disappointed with the company's guidance.
Nasdaq Symantec Corp., down $2.70 to $18.20 The security software maker fired its CEO, Steve Bennett, and named a temporary replacement.
Versartis Inc., up $10.37 to $31.37 Shares of the biotech drugmaker soared on their first day of trading, continuing a strong streak in IPOs for the health care sector.
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