Johnson & Johnson, Adobe and Starbucks dip; Sealed Air rises
NEW YORK (AP) — Stocks that moved substantially or traded heavily on Friday:
Adobe Inc., down $18.08 to $230
The software company gave a disappointing profit forecast for the current fiscal year.
Alaska Air Group Inc., up 96 cents to $62.30
The airline said it flew more passengers and revenue improved in November.
Sealed Air Corp., up $1.54 to $33.94
The industrial gas company announced a new restructuring program, including job cuts, aiming to save about $200 million a year.
Starbucks Corp., down $1.57 to $65.34
The coffee company’s forecasts fell short of Wall Street expectations.
Costco Wholesale Corp., down $19.45 to $207.06
The warehouse club operator’s membership revenue and sales were weaker than analysts expected.
Johnson & Johnson, down $14.84 to $133
Reuters reported that the health care giant knew for decades that its baby powder was sometimes contaminated with asbestos.
Nucor Inc., up 69 cents to $56.39
The steelmaker gave a strong profit forecast for the fourth quarter.
Schlumberger Ltd., down $1.92 to $39.10
Energy company stocks and oil prices fell after reports showed China’s retail sales and industrial output slowed in November.