General Motors, Eli Lilly are big movers
Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and Nasdaq Stock Market:
NYSE
General Motors Corp., down 60 cents at $3.20
The automaker's financing arm, GMAC, said bondholders agreed to swap debt for equity to help it qualify for federal aid.
Watson Pharmaceuticals Inc., up 70 cents at $26.57
The FDA approved a generic version of the nicotine gum Nicorette, which the company plans to start selling in January.
Eli Lilly & Co., up 60 cents at $40.27
The FDA will review in February the company's blood thinner prasugrel, a potential blockbuster plagued by regulatory delays.
American International Group Inc., up 1 cent at $1.57
The insurer seeks to relax rules on how bidders pay for assets as it tries to repay a $60 billion loan, media reports assert.
Amerigroup Corp., up $1.27 at $29.52
The health insurer said it is ending an agreement to buy the New Jersey Medicaid business of rival Centene.
King Pharmaceuticals Inc., up 22 cents at $10.62
The FDA is still reviewing the pain drug candidate Embeda. A ruling on the morphine-based pill was due on Tuesday.
NASDAQ
Dell Inc., up 1 cent at $10.24
The computer maker said its president of global operations and its marketing chief will leave as part of a restructuring.
Loral Space and Communications Inc., down 44 cents at $14.53
The satellite manufacturer said its Space Systems unit received a contract from Intelstat to replace an existing satellite.
Copyright 2008  AP News
