FedEx, AMC Networks Rise; Spotify, NextEra Fall

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September 17, 2020

NEW YORK: Stocks that moved heavily or traded substantially Wednesday:

FedEx Corp., up $13.63 to $250.30.

The package delivery company blew away Wall Street’s fiscal first-quarter profit and revenue forecasts.

General Motors Co., up 21 cents to $31.79.

The automaker is going to announce its own line of electric vehicle drive systems and motors, according to media reports.

Facebook Inc., down $8.90 to $263.52.

The Federal Trade Commission is preparing an antitrust lawsuit against the social media company, according to the Wall Street Journal.

AMC Networks Inc., up $4.41 to $25.18.

The cable company behind the AMC and IFC channels plans to buy back up to $250 million of its own stock.

Kohl’s Corp., up 69 cents to $23.82.

The department store chain will cut 15% of its office workers to save money.

Eastman Kodak Co., up $2.28 to $8.51.

The digital imaging company said an internal investigation concluded that its CEO did not violate insider trading policies.

Spotify Technology SA, down $3.06 to $234.85.

The company faces more competition after Amazon Music launched podcasts for customers in the U.S., U.K., Germany, and Japan.

NextEra Energy Inc., down $15.35 to $280.35.

The energy company will sell $2 billion worth of securities to BofA Securities and Barclays.

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