Sovereign, AIG among big market movers
NEW YORK — Stocks that are moving substantially or trading heavily Friday on the New York Stock Exchange and the Nasdaq Stock Market:
NYSE
Sovereign Bancorp Inc., up 40 cents at $7.86
An analyst upgraded the bank after a news report it will raise up to $2 billion in fresh capital.
American International Group Inc., down $3.87 at $40.28
The world's largest insurer lost $7.81 billion in the first-quarter and plans to raise $12.5 billion in capital.
Citigroup Inc., down 67 cents at $23.63
It will shed $500 billion in assets and plans to boost revenue by 9 percent in the next few years.
Ford Motor Co., down 10 cents at $8.10
Billionaire investor Kirk Kerkorian has started buying 20 million shares to boost his stake to 5.5 percent.
NASDAQ
True Religion Apparel Inc., up $2.76 at $22.27
The jeans maker posted a 35 percent jump in first-quarter profit, and an analyst raised his rating.
Priceline.com Inc., up $14.85 at $138.63
The online travel site swung to a first-quarter profit and guided its fiscal year above analyst expectations.
Microsoft Corp., up 12 cents at $29.39
Chairman Bill Gates said his company will grow its own Internet business after walking out on Yahoo Inc.
Nvidia Corp., up 58 cents at $22.53
The graphic chip maker's 34 percent first-quarter profit jump led an analyst to increase his rating.
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