AOL and Rackspace are big market movers
May 12, 2015, 2:06 PM
NEW YORK (AP) — Stocks that moved substantially or traded heavily Tuesday on the New York Stock Exchange and the Nasdaq Stock Market:
NYSE
AOL Inc., up $7.93 to $50.52
The Internet company is being bought by Verizon Communications Inc. in a $4.4 billion cash deal.
Rackspace Hosting Inc., down $7.17 to $45.96
The cloud computing company met first-quarter profit expectations, but its revenue results fell short of forecasts.
ITT Educational Services Inc., down $1.75 to $2.27
The for-profit educator is facing charges that it duped investors by concealing huge losses on loans made to students.
Gap Inc., down $1.51 to $38.36
The retailer behind Gap, Old Navy and Banana Republic reported a drop in first-quarter revenue because of the strong U.S. dollar.
Nasdaq
Pain Therapeutics Inc., up 68 cents to $2.62
The drug developer reported positive results from a study focusing on an abuse-resistant version of the painkiller Remoxy.
Threshold Pharmaceuticals Inc., up 24 cents to $4
The drug developer’s potential cancer drug evofosfamide, in joint development with Merck KGaA, received FDA fast track status.
New Link Genetics Corp., down $15.59 to $36.55
The biotechnology company will continue a pancreatic cancer drug study, while Wall Street had hoped for an early completion.
Depomed Inc., down $3.98 to $20.43
The drugmaker’s first-quarter results fell short of Wall Street expectations.
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