CIT Group, Pier 1, Johnson & Johnson big movers

CIT Group, Pier 1, Johnson & Johnson, Goldman Sachs are among big market movers Tuesday

• By The Associated Press
• On 5:17 pm EDT, Tuesday October 13, 2009

NEW YORK (AP) -- The following stocks were among those that moved substantially or traded heavily Tuesday on the New York Stock Exchange:

NYSE:

CIT Group Inc., down 12 cents at 92 cents

CEO Jeffrey Peek will resign as the troubled commercial lender restructures its debt, seeking to avoid a bankruptcy filing.

Pier One Inc., up 44 cents at $4.85

The furniture retailer's key sales figure for September rose 9.9 percent as customer traffic improved and markdowns dropped.

Domino's Pizza Inc., down 94 cents at $8.43

The pizza delivery chain cut costs and paid down debt, boosting profit, but a 7 percent revenue slide spooked investors.

Goldman Sachs Group Inc., down $2.92 at $187.23

Influential banking analyst Meredith Whitney downgraded the bank to "neutral" from "buy" after a recent rally in its shares.

Fortress INV Group, down 25 cents at $5.31

Shares of RailAmerica Inc., the private equity firm's railroad company, slumped in the initial public offering's debut.

Johnson & Johnson, down $1.52 at $61.01

Quarterly profit ticked higher, but the prescription drug and consumer goods company's sales unexpectedly dropped 5 percent.

NASDAQ:

Cisco Systems Inc., up 11 cents at $23.89

The computer networking gear maker will buy Starent Networks for $2.9 billion in cash, its second major acquisition in two weeks.

Synpatics Inc., down $2.17 at $21.25

Jefferies cuts its rating on the maker of touchscreen technology for computers and phones, saying orders may fall short of expectations.

Buzz up!