PayPal and Skechers jump while Celgene tumbles
NEW YORK (AP) — Stocks that moved substantially or traded heavily Friday:
Celgene Corp., down $14.63 to $121.33
The drugmaker ended late-stage testing of a potential treatment for Crohn’s disease.
General Electric Co., up 25 cents to $23.83
The industrial company slashed its annual forecast after a disappointing third quarter and announced plans to shed more than $20 billion in operations over the next couple of years.
Skechers USA Inc., up $9.96 to $33.99
The shoe company’s profit and sales were stronger than analysts expected.
PayPal Holdings Inc., up $3.72 to $70.97
The payment technology company reported big gains in new users and transactions.
Procter & Gamble Co., down $3.34 to $88.25
The consumer products giant had a solid first quarter, but analysts questioned its sales.
Synchrony Financial, up $1.33 to $33.04
The consumer credit company disclosed far stronger sales than Wall Street anticipated.
NCR Corp., down $4 to $33.05
The company cut its annual revenue forecast and said orders for ATMs were weaker than it expected.
M&T Bank Corp., up $2.94 to $165.20
Banks and bond yields jumped after the Senate passed a budget bill that eases the path toward passing tax cuts.