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Default Conditional formatting quirk

I am unable to fathom the errors I am experiencing with the following simple
problem. Please help with the necessary formula.

I want to make the contents of cell C4 say pc, but only when the contents
of cell B4 are anything EXCEPT stock, np, ff, or blank.

That shouldnt be so difficult, but

currently cell B4 has some conditional formatting which is intended to keep
the cell normal if its equal to 0, or says stock or np, turns it blue
if it says ff, but turns it red if it says anything else. This is achieved
with the following conditions in this order:

formula is =OR(B4=0,B4="stock",B4="np",C4="px in") (normal format)

cell value = ff (blue)

cell value not equal =stock (red)

and they work fine. However, during my attempts to formulate C4, B4 has been
turning red even though its empty. I appreciate that its the third
condition thats turning it red, but why has OR(B4=0 ceased to invoke
normal formatting if theres a formula in C4? It is OR rather than AND,
after all.

What formula do I need in C4, and how do I need to amend the conditional
formatting on B4?

Might I add that thanks to the sterling efforts of those on this group, I
have always been able to find what I need to know till now. I guess Ive
worked my way into a logical loophole.

 
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