General Electric, Zions Bancorp fall; Whirlpool, Axalta rise
NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Tuesday:
General Electric Co., down $9.29 to $80.59.
The industrial conglomerate warned investors that inflation and other pressures weighed on its profit forecast for the year.
Cadence Design Systems Inc., up 44 cents to $151.54.
The maker of hardware and software products for validating chip designs raised its profit forecast for the year.
Whirlpool Corp., up $8.29 to $187.16.
The maker of Maytag, KitchenAid and other appliances reported strong first-quarter profits and increased its stock buyback plan by $2 billion.
Zions Bancorp, down $5.26 to $55.83. The financial holding company warned that its fee income will decrease as it reduces some of its overdraft and nonsufficient funds fees.
Universal Health Services Inc., down $13.44 to $125.32.
The hospital and health facility operator’s first-quarter profit fell short of Wall Street forecasts.
Axalta Coating Systems Ltd., up $1.12 to $26.24.
The high-performance coating system maker beat Wall Street’s first-quarter profit and revenue forecasts.
JetBlue Airways Corp., down $1.49 to $11.57.
Widespread flight cancellations in April plus the need to hire and train more pilots will delay the airline’s return to profitability.
Sherwin-Williams Co., up $23.35 to $271.37.
The paint and coatings maker reported strong financial results and said supply chain challenges are easing.