Fossil and AIG slump, Procter & Gamble and Fortress jump

AP News
Posted: Feb 15, 2017 4:40 PM

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

Fossil Group Inc., down $3.39 to $19.48

The retailer posted weak fourth-quarter results and gave disappointing forecasts.

Procter & Gamble Co., up $3.26 to $91.12

Trian Fund Management, controlled by activist investor Nelson Peltz, bought a stake in the consumer products company.

Humana Inc., down 65 cents to $205.32

The health insurer said it will stop doing business on government health care exchanges in 2018.

Fortress Investment Group LLC, up $1.78 to $7.99

The investment company will be bought by SoftBank Group of Japan for $8.08 a share, or $3.3 billion.

American International Group Inc., down $6.04 to $60.85

The company took a loss in the fourth quarter after it set aside more money to cover potential insurance losses.

Public Service Enterprise Group, down 22 cents to $43.21

Utility companies sank as bond yields rose and the government reported that utility production dropped last month.

Groupon Inc., up 86 cents to $4.64

The online daily deals company announced strong fourth-quarter results after it bought LivingSocial.

Merck & Co., down 50 cents to $65.16

The company stopped a study of a potential Alzheimer's disease treatment because the drug was not working.