Up but short: Amazon’s stock dropped 8 percent to $587 Friday after the e-commerce company reported late Thursday that its profit more than doubled, but still fell short of forecasts because of increased costs.
Paper cuts: WestRock shares fell 11.4 percent to $33.44 Monday, and International Paper fell 5.6 percent to $34.40 after investment firms downgraded the stocks over concerns about product prices. WestRock closed the week at $35.28; International Paper finished at $34.21.
Deal bounce: Tyco International rose 5.8 percent to $32.35 Monday after it was announced that the company will combine with Johnson Controls in a $3.9 billion deal. Tyco makes fire suppression systems and Johnson Controls makes ventilation systems, auto seating and car batteries. Tyco shares closed the week at $34.39. Johnson Controls, which fell 3 percent to $34.54 Monday, closed Friday at $35.87.
Upbeat: Johnson & Johnson shares gained 3 percent Tuesday to $99.55 after the company reported higher-than-expected quarterly earnings, helped by lower taxes and cost cuts, and gave a 2016 profit outlook slightly above Wall Street’s target. J&J shares closed the week at $104.44.
Apple cored: Apple slumped 5 percent to $95.37 Wednesday after it said growth in iPhone sales slowed in the fourth quarter and predicted its first revenue decline in 13 years, citing the strong dollar. The stock finished the week at $97.34.
Grounded: Aerospace and defense giant Boeing fell 10 percent Wednesday to $115.73 after its 2016 outlook came up short of analyst projections. Boeing expects to deliver about 20 fewer planes this year compared with a record 762 in 2015. Shares closed the week at $120.13.