Originally created 08/20/04

Big Movers in the Stock Market



NEW YORK -- Stocks that were moving substantially or trading heavily Thursday on the New York Stock Exchange and Nasdaq Stock Market.

NYSE

Limited Brands Inc., down 25 cents at $20.00

The retailer reported better-than-expected second-quarter earnings, helped by successful semi-annual sales at Victoria's Secret and Bath & Body Works chains, and raised its profit outlook for the year. But August sales were running slightly below expectations, due to sluggish business.

Nortel Networks, up 14 cents at $3.74

The Canadian telecommunications equipment maker said it would slash its work force by 3,500, or 10 percent, as it struggles to recover from an accounting scandal that toppled three top executives and led to a criminal investigation and lawsuits.

Citigroup Inc., down 18 cents at $45.46

British regulators are probing unusual trading activity in European government bond and bond derivative markets. The investigation could lead to formal disciplinary proceedings against the Dow component.

Hormel Foods Corp., down $1.65 at $26.49

The food processor's profits surged 62 percent in the latest quarter, boosted by growing sales, but profit margins missed previous forecasts due to higher grain prices.

NASDAQ

Google Inc., up $15.34 at $100.34

The search engine's share price popped in its first day of trading, a day after its initial public offering price was set at $85 in an unusual Dutch-style auction.

Amazon.com Inc., down 73 cents at $38.63

The Seattle-based Internet retailing giant agreed to buy Joyo.com Ltd., China's largest online purveyor of books, music and videos, for $72 million in cash and the $3 million assumption of employee stock options.

Siebel Systems Inc., up 26 cents at $7.64

Sanford C. Bernstein & Co. upgraded the software company to "outperform," saying its low share price already reflects market risk.