AbbVie, Lennar and FedEx fall while Bausch Health rises
NEW YORK (AP) — Stocks that moved substantially or traded heavily on Tuesday:
AbbVie Inc., down $12.75 to $65.70
The pharmaceutical company is buying Botox maker Allergan in a cash-and-stock deal valued at around $63 billion.
Bausch Health Companies Inc., up 62 cents to $24.38
The health care products company said it will pay down about $100 million worth of debt.
FedEx Corp., down $4.92 to $155.98
FedEx is suing the United States government over export rules it says are virtually impossible to follow because it handles millions of packages a day.
Lennar Corp., down $3.19 to $48.22
Tariff concerns and a disappointing third quarter outlook weighed on the homebuilder’s stock.
The Medicines Co., down $1.60 to $33.76
The biotechnology company is issuing $150 million of its stock as it raises funds to develop a potential cholesterol drug.
Rambus Inc., down 5 cents to $11.50
Visa is buying the chipmaker’s token services and ticketing businesses, according to media reports.
Bank of America Corp., down 22 cents to $27.76
The banking sector suffered as higher bond prices pushed yields lower, which means banks can charge less for loan interest.
Alphabet Inc., down $29.12 to $1,087.58
The parent of Google and other internet stocks fell as investors headed for less risky holdings.