Bank of America, CBS, eBay are market movers

By The Associated Press

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

NYSE

Bank of America Corp., down 50 cents at $11.28

The bank's fourth-quarter earnings and revenue fell as it worked through legal and regulatory problems related to mortgages.

Fifth Third Bancorp, up 74 cents at $16.29

Helped by improving credit conditions, the regional banker reported that its fourth-quarter net income jumped 28 percent.

BlackRock Inc., up $9.76 at $232

The investment manager said that its fourth-quarter net income climbed 24 percent, topping what Wall Street analysts expected.

Williams-Sonoma Inc., down $2.45 at $44.68

The retailer, which also owns Pottery Barn and West Elm, forecast fourth-quarter sales and earnings below Wall Street estimates.

CBS Corp., up $3.01 at $40.95

The media company said that it will convert its U.S. outdoor advertising business into a real estate investment trust.

Nasdaq

eBay Inc., up $1.27 at $54.17

Fourth-quarter earnings at the online retailer beat expectations as bargain-hunting holiday shoppers flocked to its Internet services.

Columbia Sportswear Co., down $1.36 at $50.80

The outdoor clothing company cut its fourth-quarter sales outlook citing mild winter weather, which hurt sales of outdoor gear.

Power-One Inc., down 42 cents at $3.92

The solar equipment maker forecast a fourth-quarter loss and cut revenue estimates due to weak European demand.

2013-01-17 21:58:00 GMT