Bank of America, Office Depot, GM, Bristol-Myers Squibb are big market movers Tuesday

Bank of America, Office Depot, GM big movers

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

NYSE

Bank of America Corp., down 77 cents at $8.15

Sources said the bank will need to raise more cash if it can’t convince the government its “stress test” results are in error.

Office Depot Inc., up 29 cents at $2.82

The office products chain posted a loss, but excluding charges relating to store closings, results were better than analysts expected.

General Motors Corp., down 23 cents at $1.81

The federal government could become the car maker’s majority shareholder under a big restructuring plan announced Monday.

Waters Corp., up $6.13 at $43.83

Cutting research and administrative costs propelled the analytical instruments maker to higher profit despite a drop in sales.

Smithfield Foods Inc., up 40 cents at $9.44

Shares recovered partially from yesterday’s plunge as inspectors found no sign of swine flu on the pork processor’s Mexican farms.

Bristol-Myers Squibb Co., down 89 cents at $19.65

Strong sales of two blockbuster drugs raised revenues for the pharmaceutical, but profit was hurt by taxes and litigation charges.

NASDAQ

Tellabs Inc., up 18 cents at $5.17

Profit skidded by more than 60 percent, but the telecommunications equipment maker said it could see a high-single-digit jump in sales.

Heidrick & Struggles International Inc., down $3.83 at $19.46

The executive search firm posted a loss amid double-digit sales declines, and said it would cut more jobs and slash compensation.