Nike, Virgin Galactic, CarMax rise; FedEx falls
Stocks that traded heavily or had substantial price changes Friday:
Nike, up $20.75 to $154.35
The sportswear maker reported blockbuster earnings for its latest quarter and issued a strong outlook for the year.
CarMax, up $7.97 to $127.40
High demand for used cars produced solid results at CarMax, which breezed past Wall Street’s sales and profit targets.
Virgin Galactic, up $15.65 to $55.91
The company got approval from the federal government to start launching customers into space from New Mexico.
FedEx, down $10.99 to $291.95
The package delivery giant said it would increase spending to $7.2 billion in fiscal 2022 to beef up its delivery network.
Berkshire Hathaway Class B, up $2.89 to $278.38
Warren Buffett’s conglomerate is still aggressively buying back its own stock to make use of some of its huge pile of cash.
Wells Fargo, up $1.20 to $46.38
All 23 major U.S. banks passed the latest “stress tests” from the Federal Reserve, freeing them up to increase their dividends.
Progress Software, up 45 cents to $46.51
The maker of business software reported quarterly results that easily beat Wall Street’s forecasts.
Paychex, up $1.33 to $105.61.
The provider of payroll and human resources services reported results that easily beat analysts’s expectations.