Nortek and Harmony Gold rise; Netflix and United skid

AP News
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Posted: Jul 06, 2016 4:17 PM

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

AbbVie Inc. (ABBV), up $1.45 to $63.37.

AbbVie and Biogen said European Union regulators approved their once-a-month multiple sclerosis drug Zinbryta.

Nortek Inc. (NTK), up $24.01 to $86.50.

The heating and ventilation systems company agreed to be bought by Melrose Industries for $86 per share, or $1.4 billion.

Harmony Gold Mining Co. (HMY), up 22 cents to $4.32.

The price of gold continued to rise as investors looked for safe options.

United Continental Holdings Inc. (UAL), down 98 cents to $39.31.

A Credit Suisse analyst downgraded the airline and said she expects disappointing earnings and revenue.

Valero Energy Corp. (VLO), down $1.18 to $48.66.

The price of gas fell after the U.S. government said stockpiles grew last week.

Netflix Inc. (NFLX), down $3.31 to $94.60.

A Jefferies & Co. analyst downgraded the streaming video company, expecting slower U.S. subscriber growth and growing competition.

Frontier Communications Corp. (FTR), down 10 cents to $4.88.

Phone company stocks, which have climbed in recent weeks, took hefty losses on Wednesday.

Supervalu Inc. (SVU), up 40 cents to $5.00.

The grocery store operator said it will become the main wholesaler to the March Supermarkets chain in Ohio and Indiana.