PayPal and Skechers jump while Celgene tumbles

Markets Associated Press

Stocks that moved substantially or traded heavily Friday:

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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

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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.