Weight Watchers plunges, Best Buy and Campbell Soup jump
NEW YORK (AP) — Stocks that moved substantially or traded heavily on Wednesday:
Weight Watchers International Inc., down $10.20 to $19.37
The weight-loss program operator said it hasn’t signed up as many subscribers as it hoped this winter and expects profits to suffer.
Dean Foods Co., down 63 cents to $3.92
The food and beverage company reported a wider-than-expected loss in the fourth-quarter and suspended its dividend.
Mylan NV, down $4.61 to $26.01
The generic drug maker reported weak fourth-quarter results and gave a disappointing forecast as it deals with higher costs.
Best Buy Co., up $8.51 to $68.82
The retailer reported stronger than expected fourth quarter earnings during a holiday season that was disappointing for many of its rivals.
Versum Materials Inc., up $7.73 to $49.13
Merck KGaA is offering to buy the electronic materials company in a cash deal worth about $5.9 billion.
Palo Alto Networks Inc., up $19.33 to $254.88
The cybersecurity company’s fiscal profit surged past Wall Street forecasts and it announced a $1 billion stock buyback program.
Campbell Soup Co., up $3.30 to $36.21
The food maker beat investor forecasts for fourth-quarter profit and revenue and reaffirmed its own forecast for 2019.
EOG Resources Inc., up $1.13 to $95.04
The energy company’s quarterly revenue fell short of forecasts, but it surprised investors with earnings.