Macy’s and Exxon fall while Newmont and Presidio rise

Macy’s and Exxon fall while Newmont and Presidio rise

byAssociated Press14 August 2019 16:41-04:00

(AP) — Stocks that moved substantially or traded heavily on Wednesday:

Macy’s Inc., down $2.56 to $16.80

The department store slashed its profit forecast for the year after falling far short of Wall Street’s second quarter expectations.

Newmont Goldcorp Corp., up 31 cents to $37.97

Gold prices rose and helped lift gold mining companies as investors shifted their focus to seemingly less-risky holdings.

Myriad Genetics Inc., down $19.05 to $25.50

The molecular diagnostic company issued a weak financial forecast after falling short of fiscal fourth quarter expectations.

Tilray Inc., down $6.98 to $39.04

The cannabis company’s second quarter loss was wider than analysts’ forecasts.

Presidio Inc., up $2.91 to $16.10

The information technology services company is being bought for $2.1 billion by BC Partners.

Nvidia Corp., down $5.98 to $150.07

Chipmakers and other technology companies bore the brunt of a stock sell-off as investors moved away from high-risk stocks.

JPMorgan Chase & Co., down $4.54 to $104.80

Bond yields, which banks rely on to set interest rates and increase profits, fell sharply.

Exxon Mobil Corp., down $2.84 to $67.65

Oil prices fell and dragged down energy company stocks amid investors’ concern that economic growth could stall amid the U.S.-China trade war.

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