Paychex, Tesla rise; CalAmp, Allakos fall

Stocks that traded heavily or had substantial price changes Wednesday:

Allakos Inc., down $75.84 to $8.55.

Investors were disappointed with the biotechnology company’s latest update on its drug development program.

CalAmp Corp., down $2.55 to $7.34.

The wireless communications company reported disappointing third-quarter financial results.

AAR Corp., up 90 cents to $38.05.

The airplane maintenance company announced a $150 million stock buyback program.

Lennar Corp., up $3.63 to $112.35.

Homebuilders gained ground following a report that showed home sales rose for a third straight month.

Paychex Inc., up $6.98 to $133.41.

The payroll processor and human-resources services provider beat analysts’ fiscal second-quarter profit forecasts.

Devon Energy Corp., up 98 cents to $42.29.

Energy stocks gained ground on rising natural gas and oil prices.

Whirlpool Corp., up $2.95 to $224.33.

A wide range of consumer-focused companies gained ground following an encouraging report on consumer confidence.

Tesla Inc., up $70.34 to $1,008.87.

CEO Elon Musk reportedly said he sold enough stock to reach his goal of selling 10% of his stake in the electric vehicle maker.

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