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Monday, Aug 13, 2012 8:45 PM UTC

Sears, Campbell Soup, Elan are market movers

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Topics: From the Wires,

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

NYSE

Sears Holdings Corp., up $2.94 at $54.36

The department store chain is moving forward with plans to spin off its Hometown and Outlet stores into a seperate public company.

Tesoro Corp., up $3.37 at $38.87

The oil refiner is buying BP’s refinery in Carson, Calif., and the oil company’s other West Coast assets for $2.5 billion in cash.

Taro Pharmaceutical Industries Ltd., down $1.46 at $39.51

The drugmaker agreed to a sweetened $580.6 million buyout offer from Sun Pharmaceutical, paving the way for it to be taken private.

Campbell Soup Co., up $1.04 at $34.35

A Goldman Sachs analyst upgraded her rating on the soup seller to “Buy,” citing the company’s plans to turn its business around.

Ruby Tuesday Inc., up 27 cents at $6.72

The restaurant chain said that it named F. Lane Cardwell and Jeffrey O’Neill to its board. Both have restaurant industry experience.

Elan Corp. PLC, up 50 cents at $11.60

The drugmaker said it plans to spin off its discovery-science and neotope biosciences operations, creating two public companies.

Nasdaq

Pervasive Software Inc., up $1.52 at $8.07

The data management company’s rival, Actian, said that it wants to buy it in a deal worth about $139.4 million in cash.

Focus Media Holding Ltd., up $2.07 at $25.45

The digital media company said it received a proposal from a group of investors to take it private, valuing it at $3.49 billion.

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