Ferrari, Bank of America rise; McDonald’s, Under Armour dip
NEW YORK (AP) — Stocks that moved substantially or traded heavily on Monday.
McDonald’s Corp., down $5.28 to $188.66
The world’s biggest burger chain pushed out its CEO because he violated company policy by engaging in a consensual relationship with an employee.
Under Armour Inc., down $3.47 to $15.44
The athletic gear company is being investigated by federal authorities over its accounting practices.
Stryker Corp., down $7.60 to $205.17
The medical device maker is buying Wright Medical for about $5.4 billion, including debt.
Ferrari NV, up $8.61 to $169.99
The luxury sports car maker raised its revenue forecast after reporting surprisingly good third-quarter profits.
Insperity Inc., down $36.29 to $71.38
The human resources company reported disappointing third-quarter profit.
Bank of America Corp., up 60 cents to $32.40
Rising bond yields, which help banks charge more lucrative interest rates on loans, boosted bank stocks.
2U Inc., up $2.55 to $21.18
The education software company is being pushed by an activist investor to consider a sale, according to media reports.
Pattern Energy Group Inc., down 69 cents to $27.11
The power company is being bought by Canada Pension Plan Investment Board.