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• Sears fell 7.4 percent. The retailer is reportedly planning to sell the casual clothing line Lands’ End, which it acquired in 2002.
• SanDisk, which makes memory cards and chips, plunged 11 percent, the most in the S&P, after the company cut its forecast for first-quarter revenue because of weaker demand and lower prices.
• Home marketer Hovnanian Enterprises Inc. dropped 8.5 percent on fears that a public stock offering of 25 million shares would dilute share value. The company is selling stock to reduce debt.
• GMX Resources, an independent oil and gas producer, shot up 24 percent after the company reported that a well drilled in McKenzie County, North Dakota was producing oil at a 50 percent higher rate than a nearby well.
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