Sears, Nike and US Bancorp stumble while FedEx, Duluth rise

AP News
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Posted: Mar 22, 2017 4:29 PM

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

Sears Holdings Corp., down $1.12 to $7.98

The retailer said in a regulatory filing that there is "substantial doubt" it will be able to remain in business.

Nike Inc., down $4.09 to $53.92

The shoe and athletic apparel retailer reported weaker sales than expected and investors weren't pleased with its outlook.

U.S. Bancorp, down 9 cents to $52.60

Banks fell for the fourth trading day in a row as interest rates decreased again.

FedEx Corp., up $4.08 to $195.92

The shipping company's holiday-season results were mixed, but analysts expect its business to improve.

Duluth Holdings Inc., up $2.76 to $22.02

The clothing and tools supplier had a strong fourth quarter and its annual forecast was better than analysts expected.

PPG Industries Inc., down 23 cents to $104.25

PPG offered to buy industrial paints and chemicals company AkzoNobel for about $24 billion, which AkzoNobel rejected.

Public Service Enterprise Group Inc., up 44 cents to $45.10

Utility companies continued to do better than the rest of the market as investors snap up high-dividend stocks as bond yields fall.

Mallinckrodt PLC, down $1.51 to $42.54

Imprimis Pharmaceuticals said it is studying a drug that would compete with Mallinckrodt's costly drug HP Acthar gel.