SolarCity and Bristol-Myers climb, Adobe and HP stumble

AP News
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Posted: Jun 22, 2016 4:54 PM

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

Adobe Systems Inc., down $5.71 to $94.01

The software maker announced a larger-than-expected quarterly profit, but Wall Street was less excited about its projections for the current quarter.

FedEx Corp., down $7.44 to $156.51

The package delivery company's profit and sales were better than expected.

HP Inc., down 72 cents to $12.61

The computer and printer maker announced some changes in its marketing strategy that one analyst called a "radical shift."

KB Home, up 32 cents to $14.86

The homebuilder's profit surpassed estimates and sales were far stronger than expected.

SolarCity Corp., up 69 cents to $21.88

Electric car maker Tesla offered to buy the solar panel maker for about $2.8 billion.

Bristol-Myers Squibb Co., up $1.06 to $72.31

Drug companies rose after Medicare spending did not reach a threshold that could have led to spending cuts.

Murphy Oil Corp., down 28 cents to $31.57

Energy companies fell with the price of oil after U.S. stockpiles shrank by a smaller amount than analysts had expected.

Winnebago Industries Inc., up $1.34 to $22.95

Winnebago reported strong results as more people bought RVs and trailers it delivered on a big backlog of orders.