Caterpillar and McDonald’s surge while 3M stumbles
NEW YORK (AP) — Stocks that moved substantially or traded heavily on Tuesday:
Michael Kors Holdings Ltd., up 2 cents to $34.93
The handbag and accessories retailer said it will buy shoe maker Jimmy Choo for $1.35 billion.
McDonald’s Corp., $7.22 to $159.07
The chain had a stronger-than-expected second quarter as $1 sodas and premium burgers helped its U.S. sales.
Caterpillar Inc., up $6.36 to $114.54
The construction equipment company reported better second-quarter results than expected and raised its annual guidance.
Seagate Technology PLC, down $6.56 to $33.20
The electronic storage company fell far short of expectations in the fourth quarter and said its CEO will step down.
Freeport-McMoRan Inc., up $1.91 to $14.87
The gold and copper company said it is having productive talks with the Indonesian government about its operations there.
3M Corp., down $10.61 to $199.39
The maker of Post-it notes disclosed weak sales, and analysts were concerned about its growth and profit margins.
Barnes & Noble Inc., up $1.20 to $8.30
Sandell Asset Management said it has taken a stake in the book retailer and is urging it to go private.
Eli Lilly & Co., down $2.55 to $82.19
Regulators want the company to run another study of a rheumatoid arthritis drug, delaying its approval by more than a year.
Interpublic Group of Cos., down $3.41 to $22.16
The marketing and advertising company said clients were more cautious about their spending in the second quarter, and gave a cautious revenue forecast.