Wells Fargo and Aronic skid while Broadcom climbs
NEW YORK (AP) — Stocks that moved substantially or traded heavily Monday:
Wells Fargo & Co., down $5.91 to $58.16
The Federal Reserve froze the bank’s growth in response to a scandal over phony consumer accounts.
Broadcom Corp., down $7.38 to $228.10
The chipmaker raised its offer for competitor Qualcomm to $121 billion in cash and stock.
Bunge Ltd., up $2.29 to $80.89
Bloomberg reported that Archer-Daniels-Midland is close to a deal to buy the agribusiness and food company.
Arconic Inc., down $2.59 to $26.52
The engineered products company forecast a smaller-than-expected profit in 2018.
Church & Dwight Co., up $1.09 to $47.42
The consumer products company had a stronger fourth quarter than analysts had expected.
Corcept Therapeutics Inc., down $6.20 to $17.26
The company said Teva Pharmaceutical Industries filed for approval of a generic version of its drug Korlym.
Kirby Corp., up $2.05 to $77.75
The barge operator said it will buy Higman Marine Inc. for $419 million.
Exxon Mobil Corp., down $4.81 to $79.72
Shares in energy companies fell as the price of crude oil slipped.