Walgreen, Gannett, Warner Music Group big movers

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The following stocks were among those that moved substantially or traded heavily Tuesday on the New York Stock Exchange:

NYSE:

Walgreen Co., up $3.16 at $37.35

The drugstore operator said prescription drug sales rose in the fourth quarter, pushing the company’s results past expectations.

Gannett Inc., up $1.76 at $11.74

The largest newspaper publisher in the U.S. said third-quarter earnings should far outpace expectations despite a shortfall in revenue.

Polo Ralph Lauren Corp., up $3.15 at $77.38

An analyst upgraded the preppy retailer<s stock and predicted earnings and sales growth on gains in southeast Asia.

KKR Financial Holdings LLC, down 14 cents at $4.56

FBR Capital Markets said the company may reinstate its dividend as early as the fourth quarter on improving credit conditions.

Warner Music Group Corp., up 46 cents at $5.62

YouTube says the company<s music videos will return to the video site in the coming months after a nine-month dispute over deal terms.

CIT Group Inc., up 53 cents at $2.20

Hedge fund manager John Paulson is considering merging the troubled finance company with failed mortgage lender IndyMac Federal Bank.

NASDAQ:

Sequenom Inc., down $2.23 at $3.46

The company forced out four executives and other employees after an investigation into the mishandling of studies for a blood test.

China Precision Steel Inc., down 12 cents at $2.71

The company’s profit plunged 61 percent on rising raw material prices, but it said the steel industry is showing signs of improvement.

Copyright 2009 The Associated Press.