Spotify, Salesforce.com, Ford rise; Xylem falls
NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Monday:
Spotify Inc., up $2.03 to $99.94.
The music streaming service is cutting 6% of its workforce, the latest tech company to retrench as the economic outlook worsens.
Microsoft Corp., up $2.36 to $242.58.
The tech giant is investing in artificial intelligence startup OpenAI, maker of ChatGPT and other tools that produce readable text.
Ford Motor Co., up 40 cents to $12.80.
Government regulators ended an investigation into exhaust issues with the automaker’s SUVs without ordering a recall.
Xylem Inc., down $8.76 to $101.42.
The water industry engineering company is acquiring Evoqua Water Technologies in a deal valued at about $7.5 billion.
InterDigital Inc., up $6.45 to $69.37.
The mobile technology company said it would buy back up to $200 million of its own stock.
Salesforce.com Inc., up $4.62 to $155.87.
Activist investor Elliott Management has taken a multibillion dollar stake in the business software company, The Wall Street Journal reported.
Ritchie Bros. Auctioneers Inc., up $1.32 to $61.49.
The company increased the cash portion of its agreement to acquire IAA Inc., a digital marketplace for autos.
Western Digital Corp., up $3.33 to $41.79.
Bloomberg reported that talks are advancing for the company to combine with Kioxia Holdings Corp., a Japanese maker of memory chips.
