Broadcom, Marathon Oil rise; Wells Fargo, Zillow fall
NEW YORK (AP) — Stocks that moved substantially or traded heavily Friday:
Broadcom Inc., up $7.51 to $246.94
The technology company announced a $12 billion stock buyback program.
Marathon Oil Corp., up 53 cents to $18.16
Energy companies benefited from an increase in oil prices.
PNC Financial Services Inc., down $6.28 to $145.46
The regional bank reported results that fell shy of analysts’ forecasts.
Wells Fargo & Co., down $1.81 to $50.89
The bank said its results may have to be revised following an offer by regulators to settle investigations at a cost of $1 billion.
Qualcomm Inc., up 53 cents to $55.73
The company’s former chairman is reportedly trying to line up investors in a bid to take Qualcomm private.
Alaska Air Group Inc., up $3.68 to $63.95
The airline reported a 6.5 percent increase in traffic for March.
Zillow Group Inc., down $3.93 to $49.84
The company said it would expand its Instant Offers program to Phoenix and will buy and sell homes directly.
Coca-Cola Inc., up 48 cents to $44.51
Makers of consumer products did better than the rest of the market.