PepsiCo and Intel rise while IBM and T-Mobile slip

MarketsAssociated Press

Stocks that moved substantially or traded heavily on Wednesday:

PepsiCo Inc., up $4.60 to $127.01

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Strong sales of its namesake drink helped the beverage company beat first quarter profit and revenue forecasts.

Qualcomm Inc., $8.63 to $79.08

The mobile chip maker added to its gains after settling a bitter financial dispute with Apple.

Intel Corp., up $1.85 to $58.56

The chipmaker said it would exit the market for 5G smartphone modems and will focus on opportunities in computer modems and other devices.

T-Mobile US Inc., down $1.64 to $72.46

Media reports cast doubt on regulatory approval for the telecommunications company's $26.5 billion merger with Sprint.

CSX Corp., up $3.05 to $78.94

The freight railroad's first quarter profit beat analysts' forecasts on a mix of volume growth and lower costs.

International Business Machines Corp., $6.03 to $139.11

The technology company's first quarter revenue fell short of forecasts on lower sales throughout its businesses.

United Continental Holdings Inc., up $4.07 to $89.24

The airline's first quarter profit doubled and beat forecasts as it carried more passengers and limited costs.

PolyOne Corp., down $2.01 to $28.86

The maker of resins for plastic products reported weak first quarter profit and revenue results because of lower demand.