Oracle, La-Z-Boy fall; General Motors, Rambus rise
NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Wednesday:
Oracle Corp., down $4.56 to $77.08.
Investors were disappointed by the software maker’s first-quarter profit forecast.
La-Z-Boy Inc., down $4.94 to $37.34.
The furniture company warned investors that supply chain problems and higher materials prices could hurt profit margins.
General Motors Co., up 95 cents to $61.76.
The auto maker will raise its spending on electric and autonomous vehicles and add two U.S. battery factories.
Carnival Corp., up 67 cents to $29.28.
The cruise operator’s Cunard line gave investors an encouraging update on its plan to resume operations.
Elanco Animal Health Inc., up $1.17 to $35.98.
The animal health company is buying Kindred Biosciences for about $440 million.
Rambus Inc., up $1.67 to $21.94.
The memory chip designer is buying back $100 million of its stock and purchasing digital technology company PLDA.
Magnachip Semiconductor Corp., down $1.58 to 24.07.
The chip products maker received an order from the U.S. government to halt its sale to Wise Road Capital, pending a review.
Regeneron Pharmaceuticals Inc., down $3.91 to $523.58.
The biotechnology company slipped, despite encouraging results from a study of its COVID-19 treatment.