JPMorgan, Lexmark, Panera are market movers
NEW YORK—Stocks that moved substantially or traded heavily Friday on the New York Stock Exchange and Nasdaq Stock Market:
JPMorgan Chase & Co., up $2.03 at $36.07
The bank said that a bad trade had cost it $5.8 billion this year, but investors were relieved the mess was mostly behind it.
Wells Fargo amp; Co., up $1.06 at $33.91 The bank's net income and revenue rose in the second quarter thanks to a pickup in lending and a drop in the amount of bad loans. New York Co. Inc., up 67 cents at $4.21 The women's retailer said that it now expects revenue at stores open at least a year to grow slightly during the second quarter. Lexmark International Inc., down $3.95 at $20.36 The printer maker's shares fell to a nearly three-year low after it said it fared worse during the second quarter than it expected. Bridgepoint Education Inc., down $3.20 at $9.77 An education group is reviewing standards of the for-profit educator's Ashford University after another group denied it accreditation. Nasdaq Panera Bread Co., up $3.69 at $147.31 Citing its growth prospects, a KeyBanc analyst initiated coverage of the casual restaurant with a "Buy" rating and a $175 price target. Green Mountain Coffee Roasters Inc., down $1.57 at $19.70 Stifel Nicolaus cut its 2013 earnings outlook on the maker of single-cup coffee machines because of the coming expiration of a patent. iGATE Corp., down 2 cents at $15.98 The information-technology company said that its second-quarter net income totaled $5.4 million, reversing last year's loss.