Tuesday's biggest advancing and declining stocks
8/28/12 4:54 PM ET (MarketWatch)
CHICAGO (MarketWatch) -- Shares of the following companies were among those making sizable moves on Tuesday:
Advancers
Lexmark International Inc. shares (LXK) rose 13% after the company said it would exit the ink-jet-printer business and cut 1,700 jobs.
Shares of Molycorp Inc. (MCP) gained 13% after the company said late Monday it had begun operations to produce rare-earth elements from ore mined in California.
Movado Group Inc. shares (MOV) rallied 17% after the watchmaker lifted its forecast for the year.
Net 1 UEPS Technologies Inc. (UEPS) (NT1) gained 12% after the electronic-payment-systems company said a court ruling had cleared its agreement to supply services to South Africa's social-security agency for five years.
PVH Corp.'s stock (PVH) advanced 5% a day after the clothing retailer and owner of the Tommy Hilfiger and Calvin Klein brands hiked its 2012 earnings forecast and reported second-quarter results.
Shares of Sanderson Farms Inc. (SAFM) gained 8.5% after the chicken producer reported a better-than-expected quarterly profit.
Seabright Holdings Inc. shares (SBX) surged 33% a day after the insurance-holding firm said it would be acquired by Enstar Group Ltd. (ESGR) for about $249 million, or $11.11 a share.
Decliners
AK Steel Holding Corp.'s stock (AKS) fell 7.4% after UBS cut its investment rating to sell from neutral on the steel manufacturer.
Brown Shoe Co. Inc. shares (BWS) lost 7.3% after the footwear retailer reported a narrower second-quarter loss.
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