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Home Depot, Target among big market movers

Tuesday, May 20, 2008

Stocks that are moving substantially or trading heavily Tuesday on the New York Stock Exchange and the Nasdaq Stock Market:

NYSE



People exit from the subway to Wall Street as the value of stocks fell in early trading on the New York Stock Exchange due to fears of recession, in New York, January 22, 2008. REUTERS/Chip East (UNITED STATES)

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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