Biogen and SanDisk are big market movers

AP News
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Posted: Oct 21, 2015 4:42 PM

NEW YORK (AP) — Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and the Nasdaq Stock Market:

NYSE

General Motors Co., up $1.94 to $35.42

The automaker reported better-than-expected third-quarter profit, overcoming costs from its ignition switch recall.

The Boeing Co., up $2.31 to $141.19

Faster production of commercial jets helped the company post better-than-expected third-quarter results.

Valeant Pharmaceuticals International Inc., down $28.13 to $118.61

A short seller's research firm accused the drug company of creating a network of phantom pharmacies to fool auditors, which it denied.

The Coca-Cola Co., down 10 cents to $42.19

The beverage company reported a drop in third-quarter profit and revenue on charges due to cost-cutting measures and a strong dollar.

Chipotle Mexican Grill Inc., down $39.96 to $665.67

The restaurant chain reported worse-than-expected third-quarter profit and issued disappointing fourth-quarter guidance.

Nasdaq

Biogen Inc., up $10.53 to $276.34

The biotechnology company reported third-quarter results that topped expectations and said it will cut 11 percent of its workforce.

SanDisk Corp., up $1.59 to $76.78

Western Digital is buying the flash-memory chip maker for about $19 billion in a cash-and-stock deal.

Lam Research Corp., up 76 cents to $70.79

The company is buying KLA-Tencor Corp. for about $10.6 billion, creating a huge player in the semiconductor sector.