Time Warner, Twenty-First Century Fox rise; H&R Block sinks
NEW YORK (AP) — Stocks that moved substantially or traded heavily Wednesday:
Time Warner Inc., up $1.73 to $97.95
A federal judge cleared AT&T’s $85 billion purchase of Time Warner in a major antitrust trial.
H&R Block Inc., down $5.31 to $24.29
The tax preparer said it is preparing price changes that will reduce its profit margins in the current fiscal year.
Stryker Corp., up $4.06 to $166.60
The company said it is not in talks to buy medical device maker Boston Scientific.
Twenty-First Century Fox Inc., up $3.12 to $43.66
Investors anticipated Comcast’s offer to buy Fox’s entertainment businesses, which came after the close of trading on Wall Street.
Sprint Corp., up 7 cents to $5.38
After the AT&T-Time Warner ruling, investors felt Sprint’s sale to T-Mobile USA was more likely to go through.
CVS Health Corp., up $2.06 to $68.41
Wall Street concluded that CVS’s purchase of health insurer Aetna has a better chance at regulatory approval.
Express Scripts Holding Co., up $2.60 to $81.77
The pharmacy benefits manager’s sale to Cigna, announced in March, appeared more likely to get clearance as well.
Johnson & Johnson, up 9 cents to $122.63
The health care products company will sell its LifeScan blood glucose monitoring business to Platinum Equity for $2.1 billion.