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GE, Morgan Stanley, RIM are market movers

Source : AP
Last Updated: Fri, Jan 18, 2013 22:45 hrs

Stocks that moved substantially or traded heavily Friday on the New York Stock Exchange and Nasdaq Stock Market:

NYSE

General Electric Co., up 74 cents at $22.04

The conglomerate said that its net income rose 8 percent in the fourth quarter as earnings at all its industrial segments improved.

State Street Corp., up $2.98 at $53.36

The financial company said it plans to lower expenses by cutting 630 jobs, or about 2 percent of its worldwide workforce.

Morgan Stanley, up $1.63 at $22.38

The New York-based investment bank reported a profit in the fourth quarter, reversing a loss in the same period a year ago.

Johnson Controls Inc., down 95 cents at $31.01

The heating and ventilation systems maker reported a 17 percent decline in its first-quarter net income and posted a weak outlook.

Capital One Financial Corp., down $4.60 at $56.99

The lender said that its fourth-quarter net income grew more than twofold, and revenue rose by 38 percent, but results missed analysts' expectations.

Nasdaq

Intel Corp., down $1.43 at $21.25

The chipmaker said that its fourth-quarter net income fell 27 percent from the previous year as PC sales continued to weaken.

Netflix Inc., up $1.47 at $99.17

A Janney Capital Markets analyst upgraded the video-streaming company to a "Buy" and said it could see long-term growth.

Research In Motion Ltd., up 93 cents at $15.84

A Jefferies analyst upgraded the BlackBerry maker to a "Buy" rating ahead of the launch of its long-delayed new smartphones.




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