KB Home, First Solar, Adobe Systems, FedEx are big market movers

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NEW YORK, N.Y. – Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and the Nasdaq Stock Market:

NYSE

KB Home, up $1.04 to $18.72

The homebuilder moved to a profit for its first quarter, helped by higher selling prices for houses.

FedEx Corp., down 19 cents to $138.38

The package-delivery giant’s latest quarterly profit rose 5 per cent despite storms that raised its costs, but the results missed analysts’ expectations.

General Mills Inc., up 3 cents to $50.74

The maker of Cheerios, Yoplait and Betty Crocker blamed bad winter weather and unfavourable foreign currency translation for a drop in its quarterly revenue.

JPMorgan Chase & Co., up 24 cents to $58.30

The bank sold its physical commodities business for $3.5 billion, after new regulations crimped its ability to control power plants, warehouses, and oil refineries.

Oracle Corp., down 29 cents to $38.55

Oracle said its fiscal third-quarter net income rose 2 per cent, helped by higher cloud software subscription revenue, but investors wanted more growth.

NASDAQ

Adobe Systems Inc., down 89 cents to $67.63

The maker of Photoshop software said profit dropped 28 per cent in its most recent quarter.

First Solar Inc., up $11.84 to $69.40

The largest U.S. solar company forecast strong growth at an investor conference.

Paylocity Holding Corp., up $7.04 to $24.04

Shares of the cloud-based software provider soared on their first day of trading on the Nasdaq stock market.

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