Nike and Newmont Mining fall; Pepco, Health Net rise
NEW YORK (AP) — Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and the Nasdaq stock market:
Nike Inc., down $2.46 to $62.44
The athletic apparel retailer's latest quarterly revenue fell short of estimates and its guidance wasn't as strong as expected.
Pepco Holdings Inc., up $5.69 to $26.93
A Washington, D.C., regulator approved Exelon's nearly $7 billion takeover of the rival utility.
Health Net Inc., up $2.38 to $67.19
Regulators in California approved Health Net's combination with fellow health insurer Centene, and the companies expect to complete the deal soon.
Newmont Mining Corp., down $2.41 to $24.98
Mining companies were hurt as the dollar got stronger and the prices of gold and silver dropped sharply.
Red Hat Inc., down $3.17 to $72.54
The open-source software company issued disappointing projections for the year.
Fred's Inc., down 94 cents to $14.08
The discount retailer reported mixed quarterly results and said Michael Hayes will step down after 15 years as company chairman.
Gilead Sciences Inc., down $3.64 to $90.08
A federal jury ruled in favor of Merck and against Gilead in a dispute over patents covering hepatitis C drugs.
Cerulean Pharma Inc., up 30 cents to $2.82
Positive data on Cerulean's most advanced experimental drug was published in a medical journal.