Bristol-Myers, Rocket Lab gain; Nike, Cummins Engine fall on Friday, 12/22/2023
NEW YORK (AP) — Stocks that traded heavily or had substantial price changes on Friday:
Bristol-Myers Squibb, up $1.03 to $52.29
The drugmaker is buying Karuna Therapeutics, maker of the antipsychotic medication KarXT.
Karuna Therapeutics, up $102.66 to $317.85
The biopharmaceutical company is being acquired by Bristol-Myers for a hefty premium to its recent stock price.
Nike, down $14.49 to $108.04
The sneaker company gave a weak sales forecast and announced $2 billion in cost cuts.
Foot Locker, down $1.27 to $31.03
A disappointing outlook from Nike dragged down other athletic apparel-related companies.
Cummins Engine, down $7.01 to $236.99
The engine maker agreed to a $1.67 billion fine to settle charges of cheating on emissions tests.
NetEase, down $16.78 to $87.64
New restrictions issued by China's government could hurt revenues for online gaming companies.
Rocket Lab USA, up $1.01 to $5.44
The company received a contract to make and operate 18 space vehicles for the U.S. government
US Steel, down 19 cents to $47.97
The White House is calling for scrutiny of the steelmaker's agreement to sell itself to a Japanese rival.
