Bank of New York Mellon, General Motors, Delta, Broadcom are big market movers Tuesday

Bank of New York Mellon, General Motors big movers

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

NYSE

Coach Inc., up $2.69 at $20.92

First-quarter profit slid, but the luxury handbag maker said sales and traffic had stabilized, and declared a new cash dividend.

General Motors Corp., up 4 cents at $1.70

The car maker could get as much as $5 billion more in federal loans on top of the $13.4 billion it has already received.

Delta Air Lines Inc., up $1.30 at $8.11

Losses on fuel hedges drove the airline to a quarterly loss, but the company said it expects to be profitable this year.

New York Times Co., down 91 cents at $4.94

Plunging ad revenues sank the newspaper company to a deeper loss, and its chief executive warned of ongoing big ad declines.

Merck & Co., down $1.68 at $23.54

Sales were short of expectations for nearly all of the company’s drugs, and the drug maker cut its forecast for the year.

Citigroup Inc., up 30 cents at $3.24

Four new people were nominated to the bank’s board of directors, and the Treasury secretary said most banks are well-capitalized.

Bank of New York Mellon Corp., down 5 cents at $27.98

The bank chopped its dividend 63 percent as first-quarter earnings and revenue dropped much more than analysts had expected.

NASDAQ

Broadcom Corp., down $1.27 at $20.52

The chip maker launched a hostile takeover offer for network gear maker Emulex Corp., whose shares soared nearly 50 percent.