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Macy's, Alibaba, ITG and Cree are big market moversdo

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

NYSE

Macy's Inc., down $3.42 to $64.11

The department store operator cut its annual sales forecast after reporting disappointing results for its second quarter.

Investment Technology Group Inc., down 68 cents to $16.81

ITG will pay $20 million to settle charges it ran a secret trading desk using confidential customer trading information for profit.

Nasdaq

Alibaba Group Holding Ltd., down $3.96 to $73.38

The Chinese e-commerce company's first-quarter net income more than doubled, but its sales still fell short of Wall Street expectations.

Fossil Group Inc., down $1.44 to $60.67

The watch and accessories seller reported disappointing second-quarter revenue and lowered its outlook for the year.

Cree Inc., up $1.39 to $26.59

The maker of energy-efficient lighting reported a fiscal fourth-quarter loss after reporting a profit a year earlier.

Myriad Genetics Inc., up $2.12 to $33.20

The molecular diagnostic company reported earnings for the fourth quarter that met expectations, while its revenue beat forecasts.

Sage Therapeutics Inc., down $1.41 to $62.47

The biopharmaceutical company reported a loss for its second quarter that was wider than Wall Street had expected.

EZchip Semiconductor Ltd., up $1.94 to $18.81

The network processor maker reported a 28 percent rise in its second-quarter revenue from the same period a year ago.

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