Market Movers Today: AbbVie Inc (ABBV), Intel Corporation (INTC), Wynn Resorts, Limited (WYNN), and More

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AbbVie, the maker of the world’s best selling drug, reported fourth-quarter profit on Friday that beat Wall Street estimates on strong sales for its blockbuster drug Humira. Shares of the company rose 3.4 percent to $112 before the bell and were set to open at a record high after the U.S. drugmaker raised its 2018 earnings forecast on lower tax rates and expectations of higher operating performance. The Chicago-based drugmaker said it expected full-year adjusted earnings per share to be between $7.33 and $7.43, higher than its prior forecast of $6.37-$6.57.

Intel Corporation (NASDAQ:INTC) (MarketWatch)
Intel Corp. INTC, +8.87% shares rose 9% in Friday trading, putting the company on track for its largest one-day gain in almost nine years after a strong earnings report led multiple analysts to raise their price targets. The chip giant posted blowout earnings late Thursday and also reported December-quarter revenue ahead of consensus estimates. Investors were also pleased to hear management say that chip-security flaws Meltdown and Spectre weren’t expected to have “any material impact” on product costs, though the company updated its risk factors to include the possibility of the security exploits affecting results.

Wynn Resorts, Limited (NASDAQ:WYNN) (Bloomberg)
Wynn Resorts Ltd. shares sank more than 5 percent after the Wall Street Journal reported that its founder, casino industry legend Steve Wynn, had a pattern of sexually harassing women. Wynn, who’s also the finance chairman for the Republican National Committee, paid $7.5 million to settle claims brought by a former manicurist at his resort who said the executive pressured her to have sex with him, the Journal said. Wynn asked massage therapists to perform sexual acts on him for $1,000 tips, and others at the spa created fictitious appointments to avoid contact with him, the newspaper said in a report for which it contacted more than 150 people who have worked with the casino magnate.

MannKind Corporation (NASDAQ:MNKD) (The Motley Fool)
What happened: After gaining more than 40% Thursday on a possible short squeeze, MannKind Corp. (NASDAQ:MNKD)stock is reverting to the mean today on heavy volume. Specifically, the drugmaker’s shares are down by 17% at 11 a.m. EST. What’s driving this whipsaw trading pattern? Unfortunately, the underlying cause isn’t readily apparent due to the lack of any news from the company. But this downward trajectory might reflect short-sellers jumping back in after yesterday’s putative squeeze.

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