IBM and Brinker are big market movers

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News,Business

NEW YORK (AP) — Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and the Nasdaq Stock Market:

NYSE

IBM Corp., down $6.18 to $182.25

Light fourth-quarter revenue revealed the thin margins the tech company is working with as it shifts from hardware to software and services.

Coach Inc., down $3.17 to $49.38

Rivals including Michael Kors and Vera Bradley are cutting into the luxury-goods merchant's market share.

Brinker International Inc., up $3.03 to $49.72

The parent company of Chili's and Maggiano's restaurants reported a 7 percent jump in quarterly profit as menu prices rose.

Norfolk Southern Corp., up $4.23 to $92.94

The railroad's fourth-quarter profit jumped 24 percent as deliveries of other goods more than offset continued weak coal demand.

FirstEnergy Corp., down $1.02 to $31.13

With energy prices and sales falling, the utility cut its dividend for the first time its 17-year history.

Nasdaq

AMAG Pharmaceuticals Inc., down 99 cents to $20.87

Federal regulators reject the specialty drugmaker's appeal for the expanded use of its anemia treatment, Feraheme.

Nuance Communications Inc., up $1.16 to $16.05

The voice technology company boosted its quarterly forecast after struggling for the past year with internal and external factors.

Keryx Biopharmaceuticals Inc., down 78 cents to $14.60

The biopharmaceutical company opened a $90 million underwritten public offering of common shares.

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