Inovio, Spotify rise; Urban Outfitters, Eaton Vance fall
NEW YORK (AP) — Stocks that moved heavily or traded substantially on Wednesday:
Urban Outfitters Inc., down $1.39 to $16.54.
The clothing and accessories retailer reported a surprisingly big loss during the first quarter as shutdowns hurt sales.
Lowe’s Companies Inc., up 12 cents to $116.99.
The home improvement retailer handily beat Wall Street’s first-quarter profit forecasts as online sales surged.
Inovio Pharmaceuticals Inc., up $1.23 to $15.79.
The drug developer said a potential vaccine for COVID-19 showed encouraging results in early studies on animals.
Spotify Technology S.A., up $14.77 to $189.80.
The digital music service signed a multiyear licensing deal for the popular podcast “The Joe Rogan Experience.”
McKesson Corp., up $1.73 to $146.36.
The prescription drug distributor gave investors a weak profit forecast as it faces a financial impact from the pandemic.
Analog Devices Inc., up $8.24 to $114.57.
The chipmaker’s fiscal second-quarter profit beat Wall Street forecasts.
Hovnanian Enterprises, Inc., down 29 cents to $12.99.
The homebuilder said sales have rebounded since the middle of April and the majority of its customers in backlog closed on homes.
Eaton Vance Corp., down $1.09 to $33.88.
The investment manager’s fiscal second-quarter revenue fell short of Wall Street forecasts as income from management fees fell.