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UnitedHealth Group, BlackRock rise; Target, Nektar fall

NEW YORK (AP) — Stocks that moved heavily or traded substantially on Wednesday. UnitedHealth Group Inc., up $8.17 at $296.41. The nation's largest health insurer reported surprisingly good fourth-quarter profits.

Target Corp., down $8.26 at $117. The retailer warned that a disappointing holiday shopping season forced it to cut its fourth-quarter forecast. Nektar Therapeutics, down $4.47 at $23.49. The biotech company abandoned development of a new painkiller after two FDA panels declined to approve it.

Bank of America Corp., down 65 cents at $34.67. The consumer banking giant's fourth-quarter profits dipped because of lower interest rates. BlackRock Inc., up $11.94 at $530.26. The investment firm handily beat Wall Street's fourth-quarter earnings forecasts.

Integra LifeSciences Holdings Corp., down 16 cents at $58.32. The medical device maker warned that fourth-quarter revenue will be at the low end of its forecast. Express Inc., down 5 cents at $4.72. The clothing retailer is cutting jobs in a bid to improve profitability.

PG&E Corp., up 83 cents at $12.75. The utility is nearing a deal with a group of investors in its bankruptcy proceedings, according to Bloomberg.

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