Wal-Mart, Rockwell Automation and Cisco jump; Best Buy sinks
NEW YORK (AP) — Stocks that moved substantially or traded heavily Thursday:
Time Inc., up $3.55 to $16.20
The New York Times reported that Meredith Corp. will make another offer for the publisher.
Wal-Mart Stores Inc., up $9.79 to $99.62
The retailer said online sales climbed in its latest quarter and food sales were strong as well.
Cisco Systems Inc., up $1.77 to $35.88
The internet gear maker forecast revenue growth for the first time in two years.
NetApp Inc., up $7.29 to $53.11
Investors applauded the data storage company’s quarterly results and forecasts.
J.M. Smucker Co., up $10.14 to $116.65
The food company had a good second quarter and forecast slightly better sales for the full year.
Procter & Gamble Co., up $1.02 to $89.25
Activist investor Nelson Peltz said an independent count showed he won election to the consumer products company’s board.
Best Buy Co., down $2.05 to $55.25
The electronics retailer’s profit and sales fell short of estimates, and so did its forecast for the holiday season.
Rockwell Automation Inc., up $4.88 to $193.61
Emerson Electric raised its offer for the industrial equipment and software maker to $225 a share in cash and stock.