Apple, Disney advance while HP Inc., Avnet pull back
NEW YORK (AP) — Stocks that moved substantially or traded heavily on Friday.
HP Inc., down $1.76 to $16.64
The new CEO of the maker of personal computers and printers announced jobs cuts of up to 16% of the company’s payroll.
Apple Inc., up $6.19 to $227.01
A Japanese newspaper reported that the company has told suppliers to increase production of its new iPhone 11.
BP PLC, up 59 cents to $36.96
Bob Dudley will retire as CEO next year and will be replaced by Bernard Looney.
Walt Disney Co., up $2.12 to $130.27
The Wall Street Journal reported that Disney is banning advertising from Netflix as competition in streaming video heats up.
Ascena Retail Group Inc., up 1 cent to 32 cents
The owner of clothing retail chains reported a loss of $358 million following a profit in the same period a year earlier.
Avaya Holdings Corp., up $3.11 to $13.23
The telecommunications company announced a share buyback program and a partnership with RingCentral.
Avnet Inc., down $3.91 to $39.90
Avnet disclosed in a regulatory filing that Texas Instruments plans to end its distribution deal with the company.
Arbutus Biopharma Corp., down 41 cents to $1.02
The company said it would discontinue the development of AB-506 as a treatment of chronic hepatitis B.