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Office Depot, Suntech, Panasonic are big movers

Source : AP
Last Updated: Mon, Mar 18, 2013 21:00 hrs

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

NYSE

Office Depot Inc., up 6 cents at $4.07

A KeyBanc Capital Markets analyst upgraded shares of the office supplies retailer to a "Buy," citing its merger with OfficeMax Inc.

Panasonic Corp., up 21 cents at $7.37

Japanese newspaper Nikkei reported that the electronics maker may sell its TV unit. Panasonic said that "nothing has been decided."

The Greenbrier Cos. Inc., up 46 cents at $21.93

A Stifel analyst upgraded his stock rating on the railcar company to "Buy" from "Hold" and set a price target of $26.

Suntech Power Holdings Co. Ltd., down 6 cents at 64 cents

The Chinese solar panel manufacturer said it defaulted on a $541 million bond payment as the global solar industry struggles.

Nasdaq

Sterling Construction Co. Inc., down 43 cents at $10.61

The contractor for road, water and sewer projects posted a profit in the fourth quarter, but its results missed expectations.

Palomar Medical Technologies Inc., up 55 cents at $13.17

Cynosure is buying Palomar in a $294 million deal. Both companies make cosmetic laser and intense pulsed light systems products.

STMicroelectronics NV, up 27 cents at $7.91

Up to 1,600 workers will be laid off as the chipmaker and Swedish wireless equipment maker Ericsson end a joint venture.

Edac Technologies Corp., up $1.26 at $17.70

The aerospace company agreed to sell itself to an affiliate of private equity firm Greenbriar Equity Group for about $93.2 million.




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