Capri, Abercrombie tumble; Marvell Technology rises
NEW YORK (AP) — Stocks that moved substantially or traded heavily on Wednesday:
Abercrombie & Fitch Co., down $6.62 to $18.39
The clothing and accessories retailer reported disappointing results and a weak outlook for a key sales measure.
Capri Holdings Ltd., down $3.83 to $35.06
The owner of Michael Kors and Versace brands gave investors a weak revenue forecast for fiscal 2020.
Cypress Semiconductor Corp., up $1.85 to $17.25
The chipmaker is considering a sale after receiving a takeover offer, according to media reports.
Canada Goose Holdings Inc., down $15.13 to $33.89
The luxury coat maker issued a weak revenue forecast for the fiscal year.
Cara Therapeutics Inc., up $3.59 to $21.57
The drug developer reported solid study results for a drug aimed at dialysis-related itchiness.
Marvell Technology Group Ltd., up 67 cents to $22.02
NXP Semiconductors is buying the company’s wireless connectivity business for $1.76 billion in cash.
ArcelorMittal SA, down 35 cents to $15.35
The world’s largest steelmaker announced further cuts to production at several plants in Europe due to weak demand and high imports.
Johnson & Johnson, down $5.74 to $131.33
The health products giant faces the second day of a high profile trial in Oklahoma focusing on its role in the opioid crisis.