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Tuesday, May 20, 2008
Home Depot, Target among big market movers
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Stocks that are moving substantially or trading heavily Tuesday on the New York Stock Exchange and the Nasdaq Stock Market:

NYSE

Home Depot, down $1.50 at $27.37

A big one-time charge and a slumping housing market lowered profit by 66 percent, the nation's biggest home improvement retailer said.

Target Corp., down 63 cents at $54.29

Softer-than-expected sales, especially at established stores, crimped the retailer's quarterly profit, but it still beat Wall Street expectations.

Fannie Mae, down $1.21 at $27.74

Standard & Poor's lowered the risk-to-the-government rating, which measures how strong the mortgage financier is without government support.

McGraw-Hill Cos., down $1.24 at $43.59

The information services company will cut 395 positions in its financial services and education segments, or about 2 percent of its global staff.

Saks Inc., down 93 cents at $13.20

Higher discounting weighed on profit margins, even though the operator of Saks Fifth Avenue posted a 66 percent higher profit. Continued...

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