Varian, Aetna, Plains Exploration, Mylan, RadioShack are among big market movers Monday

Varian, Aetna, Plains Exploration are big movers

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

NYSE:

Verizon Communications, down 50 cents at $31

The telecom said it was cutting more than 8,000 wireline jobs to cut costs as its second-quarter profit narrowly beat analysts’ estimates.

Aetna Inc., down 72 cents at $25.72

An unexpectedly big jump in medical costs led the health insurer to cut its 2009 profit guidance for the second time since June.

Plains Exploration and Production Co., down $2.75 at $29.39

A no vote from the California State Assembly threw up a roadblock for the oil and gas company’s big T-Ridge offshore project.

RadioShack Corp., down $1.06 at $15

The consumer electronics retailer said its second-quarter profit grew, but sales fell short of expectations and same-store sales dropped.

Mylan Inc., down $1.75 at $12.10

The company denied media reports that employees at a facility in West Virginia were ignoring proper quality control procedures.

Pulte Homes Inc., up 84 cents at $10.59

The government said sales of new homes jumped 11 percent in June, prompting hopes of recovery in the slammed housing sector.

Coach Inc., down 88 cents at $28.43

A Lazard analyst downgraded the luxury handbag maker to “hold” a day before it announces its fourth-quarter financial results.

NASDAQ

Varian Inc., up $11.41 at $50.61

Agilent Technologies Inc. said it was buying the company for $1.5 billion, or $52 a share. Its third-quarter profit also rose 18 percent.