IBM, Express rise; Netflix, Baker Hughes fall

Business

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

Netflix Inc., down $12.11 at $326.

The streaming video company gave investors a weak forecast for subscriber growth.

IBM (IBM), up $4.72 at $143.89.

The technology and consulting company’s fourth-quarter profit and revenue beat Wall Street forecasts.

Eaton Corp., up $2.64 at $97.16.

The power management company is selling its hydraulics business to Danfoss A/S for $3.3 billion in cash.

Intel Corp., up $2.18 at $62.73.

The chipmaker said Andy Bryant stepped down as chairman and will be succeeded by Omar Ishrak.

Capital One Financial Corp., up $4.57 at $106.76.

The credit card issuer and bank reported surprisingly good fourth-quarter earnings.

Express Inc., up 86 cents at $5.01.

The retailer announced plans to cut costs and close 100 stores over the next two years.

Navient Corp., up $1.32 at $15.18.

The student loan company’s fourth-quarter profit and revenue beat Wall Street forecasts.

Baker Hughes Co., down 5 cents at $22.68.

The oilfield services company reported disappointing fourth-quarter earnings as lower demand hurt the industry.

Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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