Rackspace and Lennar are big market movers

AP News
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Posted: Sep 17, 2014 4:22 PM

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

NYSE

United States Steel Corp., up $4.20 to $45.61

The steel company said its Canadian unit will apply for relief from creditors and its third-quarter results will beat forecasts.

Rackspace Hosting Inc., down $6.95 to $32.39

The cloud computing services company said it would no longer consider a sale or merger.

Lennar Corp., up $2.27 to $41.40

The homebuilder and financing company reported better-than-expected revenue and profit on a rebound in home sales.

General Mills Inc., down $2.35 to $50.83

The consumer foods company reported worse-than-expected quarterly revenue and profit but reaffirmed its guidance.

Nasdaq

Adobe Systems Inc., down $3.43 to $67.30

The software company's third-quarter profit met Wall Street expectations but its revenue and outlook fell short.

Gilead Sciences Inc., down 92 cents to $103.84

The biotechnology company said its treatment for advanced pancreatic cancer failed to meet a midstage study goal.

Auxilium Pharmaceuticals Inc., up $9.66 to $31.18

The company said it will consider a $2.2 billion unsolicited buyout bid from health care company Endo International.

CTI BioPharma Corp., up 28 cents to $2.79

The biotechnology company entered an exclusive licensing and collaboration deal with Servier for its cancer treatment Pixuvri.