Adobe and Viacom rise while NCR and Rio Tinto fall
NEW YORK (AP) — Stocks that moved substantially or traded heavily on Wednesday:
Adobe Systems Inc., up $14.43 to $291.21
The software maker’s second quarter profit and revenue beat Wall Street forecasts.
United States Steel Corp., up 59 cents to $15.17
The steel producer took action to offset lower prices and weaker demand by idling three blast furnaces.
Lazboy Inc., up $2.66 to $32.45
The furniture company’s fiscal fourth quarter profit met Wall Street forecasts despite slightly shy revenue.
Jabil Inc., up $2.80 to $30.12
The electronic manufacturing services company beat Wall Street’s fiscal third quarter profit and revenue forecasts.
Viacom Inc., up 66 cents to $30.47
CBS and the broadcast company are involved in preliminary merger talks, according to media reports.
NCR Corp., down 7 cents to $31.26
The ATM maker has no potential bidders after putting itself up for sale, according to media reports.
Allergan PLC, up $7.52 to $128.16
The drug developer reported additional solid study results for an irritable bowel syndrome drug.
Rio Tinto PLC, down $2.28 to $59.90
The mining company cut its iron ore shipment guidance for 2019.