Alcoa and General Motors are big market movers
NEW YORK (AP) - Stocks that moved substantially or traded heavily Monday on the New York Stock Exchange and the Nasdaq Stock Market:
NYSE
Alcoa Inc., down 78 cents to $13.70
The aluminum maker is buying RTI International Metals for $1.5 billion in a move to bolster its position in the aerospace industry.
General Motors Co., up $1.12 to $37.66
The automaker will repurchase $5 billion worth of stock and will avoid a proxy fight after agreeing to a capital allocation plan.
Pinnacle Entertainment Inc., up $4.19 to $31.61
Gaming and Leisure Properties Inc. made a $2.17 billion offer to purchase the real estate assets of the casino facilities operator.
Whiting Petroleum Corp., up $3.68 to $37.71
The oil and gas company hired a bank to pursue a potential sale of the company, according to a Wall Street Journal report.
Big Lots Inc., up $2.44 to $50.96
The discount retailer reported better-than-expected fourth-quarter financial results and increased its quarterly dividend.
Nasdaq
CTI BioPharma Corp., up 17 cents to $2.82
The biotechnology company reported positive late-stage study results for its potential blood cancer treatment, pacritinib.
Tesla Motors Inc., down $3 to $190.88
The electric car maker will cut jobs in China as part of a restructuring plan after it missed sales targets in that market.
AcelRx Pharmaceuticals Inc., down $3.23 to $5.51
The Food and Drug Administration asked the drug developer to conduct an additional study on a pain treatment.