Wal-Mart, MetroPCS, Coach are big market movers

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


Wal-Mart Stores Inc., down 94 cents at $51.68.

A Jefferies analyst downgraded the discounting giant saying the company’s shoppers are cutting spending as gas and food prices rise.

MetroPCS Communications Inc., down $5.92 at $10.26

The low-cost wireless service provider reported 5.5 percent profit growth in the second quarter but it still missed expectations.

Coach Inc., down $4.26 at $61.03

The luxury handbag maker said its fourth-quarter net income rose 4 percent, but investors were expecting better results.

FMC Corp., down $5.80 at $82.55

The chemical company posted a third-quarter outlook that was below what Wall Street analysts were expecting.

Chesapeake Energy Corp., down 20 cents at $34.15

The oil and gas company said an oil and natural gas field in Ohio could be worth up to $20 billion for shareholders. But shares ticked lower as broader markets tumbled.


Winn-Dixie Stores Inc., down 91 cents at $8.05

The grocery chain said that it expected fourth-quarter earnings to be lower than they were last year.

Steve Madden Ltd., down $2.22 at $37.23

The New York-based shoe designer said its second-quarter profit and revenue rose, but its gross profit margin fell.

Ariad Pharmaceuticals Inc., down $1.22 at $10.86

The biopharmaceutical company said it lost money in the second quarter compared to a year ago, when it sold rights to a drug.