Adobe and FedEx stumble while Lennar and CDW advance

NEW YORK (AP) — Stocks that moved substantially or traded heavily on Wednesday.

Adobe Inc., down $4.97 to $279.72

The software maker gave investors a disappointing profit forecast for its fiscal fourth quarter.

FedEx Corp., down $22.39 to $150.91

The package delivery company's fiscal first quarter profit fell short of Wall Street forecasts as it deals with slower economic growth and the loss of business from Amazon.

CDW Corp., up $6.58 to $120.38

The information technology company will replace Total System Services Inc. on the S&P 500 index on Sept. 23.

Alexion Pharmaceuticals Inc., down $4.85 to $102.98

The drug developer said Dr. Aradhana Sarin will replace Paul Clancy as chief financial officer later this year.

ConocoPhillips, down $1.21 to $60.01

Oil prices retreated and weighed on energy stocks as Saudi Arabia brings back production to a damaged facility.

Lennar Corp., up $1.05 to $54.15

The homebuilder gained ground after the Commerce Department reported that the pace of U.S. home construction jumped 12.3% last month to a 12-year high.

AT&T Inc., down 40 cents to $36.76

The telecommunications company is being pushed to sell off its DirecTV unit, according to media reports.

Dominion Energy Inc., up $1.03 to $80.06

The utility company and its peers gained ground as investors became more defensive.