Genentech, General Electric, Pfizer Are Big Movers
NEW YORK (AP) ¿ Stocks that moved substantially or traded heavily Thursday on the New York Stock Exchange and Nasdaq Stock Market:
Genentech Inc., up $1.75 at $93.92
Roche agreed to pay $46.8 billion to buy the 44 percent of the biotechnology pioneer that it doesn't already own.General Electric Co., up $1.08 at $9.57 GE's credit rating was cut to 'AA+' from 'AAA' over loan loss concerns, but investors were relieved it wasn't cut more. General Motors Corp., up 32 cents at $2.18 The struggling automaker said it won't need a $2 billion government loan installment that it had requested for March. Pfizer Inc., up $1.23 at $14.02 The drug maker said it ended a trial of cancer drug Sutent early, after data showed it slowed progression of pancreatic cancer. Hanesbrands Inc., up $1.92 at $8.33 The apparel maker said it amended a credit facility to ensure it can meet debt requirements and set a goal to reduce debt. Men's Wearhouse Inc., up $3.05 at $13.92 The clothing retailer reported better quarterly results than Wall Street expected and an analyst upgraded the stock to "buy." NASDAQ Sirius XM Radio Inc., up 3 cents at 19 cents The company is planning to stream its subscription radio service to Apple's iPhone and iPod Touch beginning this spring. CV Therapeutics Inc., up $5.04 at $21.04 Biotechnology firm Gilead Sciences said it will buy CV Therapeutics for about $1.4 billion amid a wave of drug-industry deals.
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