BofA, Sprint, CVS Caremark are big market movers

NEW YORK (AP) ? Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and Nasdaq Stock Market:


Bank of America Corp., up 69 cents at $6.99

The bank’s shares rebounded after a long sell-off. Several analysts said worries about the company’s balance sheet were overblown.

CVS Caremark Corp., up $1.05 at $34.44

The pharmacy chain approved a new $4 billion program to buy back its stock after a steep decline in its shares in August.

Sprint Nextel Corp., down 14 cents at $3.45

The country’s No. 3 wireless carrier will reportedly start selling the iPhone 5 which could help boost its market share.

The New York Times Co., up 33 cents at $7.33

The newspaper publisher’s stock rose for a second day on after Mexican billionaire Carlos Slim boosted his stake in the company.

La-Z-Boy Inc., up 13 cents at $7.76

A tax benefit helped the furniture maker post a profit in the latest quarter, but adjusted earnings fell short of expectations.

American Eagle Outfitters Inc., down $1.02 at $10.60

The teen retail chain said its quarterly net income doubled, but predicted that rising cotton costs will hurt profit margins.


United Therapeutics Corp., down $8.85 at $39.91

The drugmaker’s blood pressure treatment was no better than a placebo in a clinical trial, making FDA approval less likely.

Pacific Sunwear of California Inc., down 70 cents at $1.47

The retailer predicted a steep loss for the third quarter because of promotions during the back-to-school season.