CVS, Ciena rise; GameStop, Laboratory Corp. fall

December 9, 2021 GMT

NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Thursday:

CVS Health Corp., up $4.21 to $97.31.

The drugstore chain and pharmacy benefits manager announced a $10 billion stock buyback program and raised its dividend.

GameStop Corp., down $17.89 to $155.76.

The video game retailer’s third-quarter loss was much bigger than analysts expected.

Restoration Hardware Holdings Inc., up $31.55 to $608.51.

The furniture and housewares company beat Wall Street’s third-quarter profit and revenue forecasts.

Laboratory Corp. of America Holdings, down $14.86 to $281.97.

The medical laboratory operator announced a stock buyback program and plans to initiate a dividend in 2022.

Ciena Corp., up $9.73 to $71.93.

The developer of high-speed networking technology reported strong fiscal fourth-quarter revenue.

Hormel Foods Corp., up $2.01 to $44.80.

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The maker of Spam canned ham, Dinty Moore stew and other foods gave investors an encouraging financial forecast.

Citigroup Inc., down 32 cents to $62.14.

Bond yields fell and weighed on banks, which rely on higher yields to charge more lucrative interest on loans.

Hess Corp., down $1.81 to $78.75.

Crude oil prices fell and sent energy stocks lower.