ConAgra and Staples are big market movers
NEW YORK (AP) — Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and the Nasdaq Stock Market:
ConAgra Foods Inc., up $1.57 to $40.93
The food company is spinning off its frozen potato unit and refocusing on its core consumer brands as Conagra Brands Inc.
Target Corp., down $3.13 to $69.78
The retailer reported sales at established locations grew 1.9 percent in the third-quarter but that marked a slowdown.
Norfolk Southern Corp., up $5.52 to $92.49
Canadian Pacific says its wants to buy the railroad for an undisclosed amount to create a much larger transcontinental railroad.
Fairchild Semiconductor International Inc., up $1.52 to $19.40
The chipmaker is being bought by rival ON Semiconductor for about $2.4 billion in cash in a move that further consolidates the sector.
Staples Inc., down 34 cents to $12.11
The office supplies retailer reported a drop in third-quarter profit and sales as it awaits clearance of its Office Depot buyout.
PMC-Sierra Inc., up 22 cents to $11.87
Microsemi Corp. again raised its buyout offer for the chipmaker in an ongoing bidding war against rival Skyworks Solutions.
Citrix Systems Inc., down $7.88 to $70.54
The computing company will cut about 1,000 jobs and spin off its GoTo business into a separate company in a move to cut costs.
Jack in the Box Inc., up $4.06 to $74.05
The burger chain reported worse-than-expected third-quarter results, but gave an upbeat 2016 profit outlook.