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3M and Altria tumble while Facebook and Comcast rise

NEW YORK — Stocks that moved substantially or traded heavily on Thursday:Microsoft Corp., up $4.14 to $129.15The software maker’s efforts to push businesses onto its cloud computing platform fueled better-than-anticipated third quarter results.Facebook Inc., up $10.68 to $193.26Investors shrugged off a hefty charge for a potential regulatory fine as the social media company’s quarterly results beat forecasts.United Parcel Service Inc., down $9.30 to $105.13The package delivery service’s first quarter results fell short of Wall Street forecasts as revenue flat-lined3M Co., down $28.36 to $190.72The maker of Post-it notes, industrial coatings and ceramics reported weak first-quarter results and expects slower growth 2019.Shutterstock Inc., down $3.72 to $42.05The online marketplace for royalty-free images and videos reported weaker-than-anticipated first quarter profit and revenue.World Wrestling Entertainment Inc., down $13.12 to $85.38The professional wrestling events company reported a surprise first quarter loss on a decline in ratings and revenue.Comcast Corp., up $1.08 to $42.93The cable provider kept shedding cable customers and adding home internet customers, beating Wall Street’s profit forecasts for its most recent quarter.Altria Group Inc., down $3.30 to $51.41The nation’s largest cigarette maker reported weak first quarter results on lower sales and a hefty investment in cannabis company Cronos.The Associated Press read more

Three local councils dissolved

Meanwhile speculation was rife yesterday that former Presidential Advisor Hemakumara Nanayakara has been approached by the UNP to contest the elections on behalf of the opposition.Nanayakara resigned from his post over a dispute with the government. The elections will be seen as a referendum on the government at a time when the cost of living has gone up with the rise in the price of essential items. The government today dissolved the North Central, Sabaragamuwa and Eastern Provincial councils through a gazette notification, the government information department said.The gazette was issued last night dissolving the three councils with effect from today, a year before the scheduled day the term of the three councils end. Elections for the three councils are expected to take place in September this year. read more