Neftlix and Alphabet rise; Lilly and Concentrix fall
NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Friday:
Alphabet Inc. – Up 4.97 to $98.02
Google’s owner is reducing 12,000 jobs, or about 6%, of its workforce. This is the latest tech company that has cut staff.
Netflix Inc., $26.72 to $342.50
The streaming video pioneer’s subscriber growth is increasing again, a sign that the streaming service’s ad-supported service keeps it competitive.
Eli Lilly Inc. is down $5.01 to 346.07.
Regulators said they need more data on the company’s application for a quick approval of potential Alzheimer’s disease treatment.
Playtika Holding Corp. is up 71c to $10.20
The Israeli mobile game editor is offering to buy Rovio Entertainment Corp., the maker of “Angry Birds.”
Wayfair Inc., $7.88 to $46.79.
According to the online furniture store, it is cutting 1,750 jobs or 10% of its workforce as part of a cost-cutting initiative.
PPG Industries Inc., $7.40 to $131
Analysts were pleasantly surprised by the results of this paint and coating manufacturer.
Regions Financial Corp., from $1 to $22.69.
The bank, which is based in Alabama, reported better results than Wall Street analysts had expected.
Concentrix Corp. drops 97c to $141.99
The results of the business services company were disappointing compared to Wall Street’s expectations.