Target slips while Ciena and Broadcom move higher
NEW YORK (AP) — Stocks that moved substantially or traded heavily on Tuesday:
Target Corp., down $3.35 to $71.79
The retailer reported strong sales but said expenses rose as it spends more money on its website and revamps stores.
Nordstrom Inc., up 59 cents to $52.49
The department store rejected an offer from the Nordstrom family to take it private.
Ascena Retail Group Inc., down 14 cents to $2.28
The owner of brands such as Ann Taylor and Lane Bryant took a bigger loss as it had to offer more discounts.
Broadcom Ltd., up $3.98 to $250.96
Bloomberg News reported that directors backed by Broadcom are on track to win six seats on the board of rival Qualcomm.
Cars.com Inc., up $1.16 to $29.45
The online automotive marketplace had larger quarterly profit than Wall Street had anticipated.
Ciena Corp., up $2.35 to $25.71
The developer of high-speed networking technology posted a smaller loss and better sales than analysts expected.
Fiat Chrysler Automobiles NV, up $1.04 to $21.27
Reuters reported that the automaker is considering spinning off its Magneti Marelli parts business.
J.M. Smucker Co., down 34 cents to $129.68
The Federal Trade Commission moved to block Smucker’s purchase of Wesson oil from Conagra Brands.