Carnival and Facebook are Big Market Movers
Stocks that moved substantially or traded heavily Tuesday on the New York Stock Exchange and the Nasdaq Stock Market:
Red Hat Inc., down $6.20 to $46.73
The software company’s billings for the quarter were weak and it issued disappointing revenue predictions the full year.
Carnival Corp., down $2.86 to $34.54
Passengers are hesitant to book cruises despite lower prices and the company said revenue will drop 3 percent this year.
Greenway Medical Technologies Inc., up $3.27 to $20.40
The health care technology company will be acquired by Vitera Healthcare at a 19 percent premium, or $20.35 per share.
Hersha Hospitality Trust, up 20 cents to $5.71
The real estate investment trust is selling 16 hotels to an affiliate of Blackstone Real Estate Advisors for $217 million.
Facebook Inc., up $1.26 to $48.45
Citigroup upgraded the stock of the social media giant and Sterne Agee calls reports of a partial lift of a ban in China a positive first step.
Applied Materials Inc., up $1.45 to $17.45
The technology services provider is tying up with Tokyo Electron to create an entity with a market capitalization of about $29 billion.
Paragon Shipping Inc., down 49 cents to $5.75
The shipping company expands and prices a $30 million public offering consisting of 5.2 million shares for $5.75 each.
Cbeyond Inc., up 52 cents to $6.47
Raymond James upgraded the stock of the technology and communications equipment provider, saying a recent slump in the shares provided a good opportunity for long-term investors.