General Motors, Sony, Walt Disney, Gilead Sciences and Staples are big market movers
Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and the Nasdaq Stock Market:
General Motors Co., up $1.85 to $35.83
The automaker reported better-than-expected fourth-quarter profit despite the high cost of recalled vehicles and claims.
The Walt Disney Co., up $7.18 to $101.28
The entertainment company reported better-than-expected fourth-quarter profit on a mix of revenue from films, parks and products.
Sony Corp., up $2.55 to $25.94
The entertainment and electronics company trimmed its forecast of losses and sees no significant harm from recent cyberattacks.
AbbVie Inc., down $4.74 to $56.91
The drug developer's arthritis treatment Humira could face competition from a biosimilar version being made by Amgen Inc.
Gilead Sciences Inc., down $8.75 to $98.43
The biotechnology company reported better-than-expected profit but will offer discounts on its revenue-driving hepatitis C drugs.
Staples Inc., down $2.28 to $16.73
The office supplies company said it plans to buy rival Office Depot Inc. for $6.3 billion in a cash-and-stock deal.
Myriad Genetics Inc., down $3.50 to $34.62
The diagnostics company cut its fiscal year forecast because of reimbursement delays and said CEO Peter Meldrum is retiring.
Cognizant Technology Solutions Corp., up $2.78 to $57.88
The information technology and consulting company reported better-than-expected fourth-quarter profit and revenue.