Apple, General Electric rise; Starbucks, Xilinx fall
NEW YORK (AP) — Stocks that moved heavily or traded substantially on Wednesday:
Apple, up $6.65 to $324.34
The iPhone maker handily beat Wall Street’s fiscal first-quarter profit forecasts on solid holiday sales.
General Electric, up $1.21 to $12.94
The industrial conglomerate beat analysts’ fourth-quarter profit forecasts and reported strong sales growth from its aviation business.
Starbucks, down $1.88 to $86.72
The coffee shop chain said it is holding off on raising its profit forecast because of uncertainty over the spreading virus in China.
McDonald’s, up $4.05 to $214.44
The world’s biggest hamburger chain reported good fourth-quarter earnings and revenue.
Advanced Micro Devices, down $3.03 to $47.51
The chipmaker gave investors a weak revenue forecast for the first quarter.
L Brands, up $2.66 to $23.22
The owner of Victoria’s Secret is considering a leadership change and a potential sale of the lingerie business, according to the Wall Street Journal.
Norfolk Southern, up $10.07 to $214.83
The railroad beat Wall Street’s fourth-quarter profit forecasts as it cut costs to adjust to lower demand.
Xilinx, down $10.55 to $88.06
The chipmaker gave investors a weak revenue forecast for the current quarter and said it will slash jobs to cut costs.