Among other stocks making big moves:
— JC Penney plunged 19.7 percent, the most in the S&P 500 index, after the retailer reported a bigger-than-expected first-quarter loss. Sales plummeted as shoppers are rejecting the retailer's new plan of getting rid of big sales throughout the year in favor of everyday low pricing.
— Abercrombie & Fitch fell 13 percent after reporting that its first-quarter net income shrank 88 percent because of higher costs and declining sales in established stores and in Europe.
— General Electric rose 3.2 percent, the most of the 30 stocks in the Dow, after the company said its finance unit will pay a special dividend of $4.5 billion to the parent company this year. It had suspended the payments in 2009 during a freeze in credit markets.
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