Citigroup, Amazon slump on economic outlook, Broadcom jumps

AP News
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Posted: Jun 03, 2016 4:34 PM

NEW YORK (AP) — Stocks that moved substantially or traded heavily on Friday:

Citigroup Inc., down $1.58 to $45.39

Banks tumbled as investors anticipated that the Federal Reserve won't raise interest rates as soon as they'd hoped.

Newmont Mining Corp., up $3.05 to $35.40

Metals companies traded higher as the price of gold and other precious metals jumped.

Amazon.com Inc., down $2.70 to $725.54

Consumer stocks like Amazon also fell as investors worried Americans will curtail their shopping and spending if the economy slows.

Zumiez Inc., down 64 cents to $14.42

The clothing retailer said sales at older stores slumped in the fiscal first quarter.

Cooper Cos., down $2.02 to $165.40

The surgical product and contact lens maker raised its annual projections after it issued a stronger-than-expected quarterly report.

Broadcom Corp., up $7.65 to $162.56

The communications chip maker posted a bigger-than-expected profit in its fiscal second quarter.

Gap Inc., up 76 cents to $19.09

The retailer said its sales fell in May, but the results were better than analysts expected.

Ambarella Inc., up $3.99 to $46.47

The video compression chip maker's profit and revenue were greater than expected.