AP NEWS

Tesla and Southern drop while Broadcom rises

September 7, 2018

NEW YORK (AP) — Stocks that moved substantially or traded heavily on Friday:

Tesla Inc., down $17.71 to $263.24

The company’s chief accounting officer resigned after a month on the job, and CEO Elon Musk appeared to smoke marijuana during an interview.

Broadcom Inc., up $16.61 to $232.58

The chipmaker reported stronger-than-expected profit for the latest quarter.

Southern Co., down $1.43 to $44.33

Stocks fell across the utility industry after a jump in bond yields drew buyers away from dividend-paying companies.

Palo Alto Networks Inc., up $7.24 to $227.61

The cybersecurity company reported results for the latest quarter that were better than Wall Street forecast.

Five Below Inc., up $15.38 to $130.89

The discount retailer’s profit for the latest quarter beat analysts’ expectations, and it raised its profit forecast for the fiscal year.

Michaels Cos., up 66 cents to $16.69

The arts-and-crafts retailer’s board of directors authorized a program to buy back up to $500 million of its stock.

Finisar Corp., up $1.40 to $20.15

The technology company reported stronger-than-expected earnings and revenue for the latest quarter.

Quanex Building Products Corp., up $3.10 to $19.45

The company’s earnings for the latest quarter came in better than Wall Street was expecting.

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