Starwood and Columbia Pipeline climb on deals, Adobe rises
Stocks that moved substantially or traded heavily Friday on the New York Stock Exchange and the Nasdaq stock market:
Starwood Hotels & Resorts Worldwide Inc. (HOT), up $4.18 to $80.57
The hotel chain accepted a $14 billion buyout offer from a group led by Anbang Insurance Group of China.
Columbia Pipeline Group Inc. (CPGX), up $1.33 to $24.84
TransCanada Corp. agreed to buy the company for $10 billion, or $25.50 per share, in an attempt to expand further into the U.S.
Tiffany & Co. (TIF), up $2.07 to $72.19
The jewelry retailer had a difficult fourth quarter, but its profit was larger than investors expected.
JPMorgan Chase & Co. (JPM), up $1.73 to $60.48
The bank said it will buy back another $1.88 billion in company stock, and got a boost from rising oil prices.
Textron Inc. (TXT), up $1.20 to $36.17
The weakening dollar could make Textron's products, including Cessna small planes and Bell helicopters, more affordable overseas.
Bank of America Corp. (BAC), up 39 cents to $13.79
Oil prices made investors more confident that loans to energy companies will be repaid, and the company said it will buy back $800 million in stock.
Adobe Systems Inc. (ADBE), up $3.46 to $93.42
The software developer behind Photoshop, Illustrator and Acrobat reported better-than-expected results for the fiscal first quarter and raised its annual forecasts.
Shoe Carnival Inc. (SCVL), up $1.55 to $27.22
The footwear retailer rose after it reported strong quarterly results.