Sears, Nike and US Bancorp stumble while FedEx, Duluth rise
NEW YORK (AP) -- Stocks that moved substantially or traded heavily on Wednesday:
Sears Holdings Corp., down $1.12 to $7.98
The retailer said in a regulatory filing that there is "substantial doubt" it will be able to remain in business.
Nike Inc., down $4.09 to $53.92
The shoe and athletic apparel retailer reported weaker sales than expected and investors weren't pleased with its outlook.
U.S. Bancorp, down 9 cents to $52.60
Banks fell for the fourth trading day in a row as interest rates decreased again.
FedEx Corp., up $4.08 to $195.92
The shipping company's holiday-season results were mixed, but analysts expect its business to improve.
Duluth Holdings Inc., up $2.76 to $22.02
The clothing and tools supplier had a strong fourth quarter and its annual forecast was better than analysts expected.
PPG Industries Inc., down 23 cents to $104.25
PPG offered to buy industrial paints and chemicals company AkzoNobel for about $24 billion, which AkzoNobel rejected.
Public Service Enterprise Group Inc., up 44 cents to $45.10
Utility companies continued to do better than the rest of the market as investors snap up high-dividend stocks as bond yields fall.
Mallinckrodt PLC, down $1.51 to $42.54
Imprimis Pharmaceuticals said it is studying a drug that would compete with Mallinckrodt's costly drug HP Acthar gel.