Penske, Conceptus, Sina are big movers
Penske, Conceptus, Sina, Sinclair Broadcast are big market movers on Monday
NEW YORK (AP) -- Stocks that moved substantially or traded heavily Monday on the New York Stock Exchange and the Nasdaq Stock Market:
NYSE
J.C. Penney Co. Inc., up 19 cents at $17.19
The retailer confirmed that investment bank The Goldman Sachs Group Inc. will provide $1.75 billion in financing.
Penske Automotive Group Inc., up $1.62 at $31.42
The auto retailer reported net income in the first quarter rose 23 percent, helped by higher U.S. demand for vehicles.
Eaton Corp. PLC, up $1.63 at $60.28
The diversified manufacturer said its first-quarter net income rose 22 percent, thanks to the acquisition of Cooper Industries.
Southwestern Energy Co., up $1.49 at $36.97
The oil and gas producer reached a deal to buy properties in a key natural gas field area for about $93 million.
Nasdaq
Conceptus Inc., up $5.06 at $30.96
German drug company Bayer AG said it plans to buy California-based Conceptus Inc. to expand its birth control offerings.
Auxilium Pharmaceuticals Inc., down $2.03 at $14
The drugmaker reported disappointing first-quarter sales and said it will spend $585 million to buy a urology drug company.
Sinclair Broadcast Group Inc., down 80 cents at $26.69
The TV station operator said first-quarter net income fell sharply, as higher revenue failed to make up for rising expenses.
SINA Corp., up $4.73 at $55.03
Alibaba Group, the Chinese e-commerce company, agreed to buy an 18 percent stake in SINA Corp.'s Weibo, a microblogging platform.