— SanDisk, which makes memory cards and chips, plunged 11 percent, the most in the S&P, after the company cut its forecast for first-quarter revenue because of weaker demand and lower prices.
— Home marketer Hovnanian Enterprises Inc. dropped 8.5 percent on fears that a public stock offering of 25 million shares would dilute share value. The company is selling stock to reduce debt.
— GMX Resources, an independent oil and gas producer, shot up 24 percent after the company reported that a well drilled in McKenzie County, North Dakota was producing oil at a 50 percent higher rate than a nearby well.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Reader Comments