Fred's and Nvidia sink while Coach rises

AP News
|
Posted: Dec 28, 2016 5:52 PM

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

Qualcomm Inc., down $1.50 to $65.75

South Korean regulators fined the chipmaker $865 million and said it engaged in unfair sales practices.

Fred's Inc., down 95 cents to $18.68

A report says the retailer adopted a "poison pill" to thwart an activist investor from interfering with its plan to buy 865 Rite Aid stores.

Nvidia Inc., down $8.07 to $109.25

Short seller Citron Research said it expects Nvidia stock, which has tripled in value this year, to fall substantially.

Boeing Co., down $1.38 to $156.10

Delta Air Lines said it is canceling an order for 18 Boeing 787 aircraft.

Chesapeake Energy Corp., down 36 cents to $7.23

The company's shares dropped as stock in oil and natural gas drilling companies declined.

William Lyon Homes, down 64 cents to $19.33

A National Association of Realtors report said fewer Americans signed contracts to buy homes in November.

Coach Inc., up 70 cents to $35.14

The handbag maker notched the biggest gain in the S&P 500 index Wednesday.

Goldman Sachs Group Inc., down 91 cents to $240.65

The investment bank's shares dropped as banks led a broad slide in U.S. stocks Wednesday.

___

Corrects that natural gas prices did not fall.