Abaxis and Macy’s climb while Phillips 66, Newfield skid
NEW YORK (AP) — Stocks that moved substantially or traded heavily Wednesday:
Abaxis Inc., up $11.59 to $83.34
The veterinary products company agreed to be bought by Zoetis for $83 a share, or $1.88 billion.
Macy’s Inc., up $3.24 to $33.17
The department store raised its annual forecasts after a better-than-expected first quarter.
GameStop Corp., up 4 cents to $13.55
CNBC reported that hedge fund Tiger Management urged the video game maker to conduct a strategic review of its business.
Newfield Exploration Co., down 16 cents to $28.95
The dollar continued to gain strength, which sent oil prices lower and weighed on energy companies.
Teva Pharmaceutical Industries Ltd., up 58 cents to $20.88
Warren Buffett’s company Berkshire Hathaway more than doubled the size of its investment in the Israeli drugmaker.
Phillips 66, down 16 cents to $118.16
Buffett and Berkshire sold about half their investment in the oil and gas company.
Office Depot Inc., up 12 cents to $2.46
The office supply company maintained its forecasts for the year.
Packaging Corp. of America, up $4.11 to $119.04
Basic materials makers fared better than the rest of the market Wednesday.