Rite Aid, CarMax, Adobe Systems, Wilmington Trust among big market movers Wednesday

Rite Aid, CarMax, Adobe Systems are big movers

NEW YORK — Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and Nasdaq Stock Market:

Rite Aid Corp., up 6 cents at $1.07

The drugstore operator narrowed its loss in the fiscal first quarter because it cut spending, even as revenue fell.

CarMax Inc., up $1.85 at $21.85

The used-car dealership’s first quarter net income more than tripled as customer traffic and auto sales improved.

Wilmington Trust Corp., down $1.43 at $11.56

An analyst said it is likely the bank will have to write off more loans as uncollectable than he had previously expected.

Jabil Circuit Inc., up $1.44 at $15.03

The electronics parts maker’s forecast for the current quarter topped expectations of Wall Street analysts.

Adobe Systems Inc., down $2.38 at $30.38

The software maker’s fiscal second quarter topped expectations, but plans to increase spending could slow earnings growth.

ON Semiconductor Corp., down 19 cents at $6.80

An analyst downgraded the chipmaker’s shares, saying China’s slowing demand for electronic goods could weigh on revenue.

Bebe Stores Inc., up 30 cents at $6.63

The retailer’s new chief merchant is improving its clothing offerings, and a key revenue measure could start to improve soon, an analyst said.

Apogee Enterprises Inc., down $1.02 at $11.72

Shares hit a 14-month low after the glassmaker posted a quarterly loss because of a weak commercial construction market.