Amgen advanced US$3.10 to US$60.82. Amgen also reported second-quarter earnings that rose more than expected.
The GDP report boosted expectations that the Fed will lower interest rates another half-point this year. That lifted financial stocks such as JP Morgan Chase & Co., which gained 97 cents to US$44.21. General Electric, whose GE Capital unit is the largest non-bank finance company, rose US$0.90 to US$44.65.
JDS Uniphase, the biggest marker of fiber-optic parts, declined US$0.92, or 9.7 percent, to US$8.55, and was the most active stock with 67.25 million shares changing hands.
The company restated fiscal third-quarter results to write down US$38.7 billion in acquisitions, bringing the full-year loss to US$50.6 billion. No US company has lost more in a year.
JDS Uniphase also said it will fall short of last month's forecast of US$450 million in fiscal first-quarter sales and declined to provide more specific estimates for its results.
Among the most widely held stocks, Microsoft dropped US$1.12 to US$65.47, General Motors Corp fell US$1 to US$62.90 and IBM declined US$1.30 to US$104.70.
Columbia Sportswear Co plummeted US$9.04 to US$35.96. The sportswear retailer said that it anticipates spring 2002 order growth in the high single digit to low double-digit range, below its historic rate.
Campbell Soup Co dropped US$0.75 to US$27.01. The largest soupmaker cut its dividend and earnings estimates for fiscal 2002 because it increased spending on marketing and new-product development and lowered soup prices to reverse slumping sales.
Tricon Global Restaurants Inc fell US$1.20 to US$43.50. The owner of the Pizza Hut, KFC and Taco Bell chains said fiscal third-quarter earnings may be less than forecast as sales slow. Still, Tricon expects full-year profit of US$3.18 a share, US$0.03 above estimates.
Corvis Corp rose US$0.56 to US$3.83 after the maker of fiber-optic equipment said it reached agreement to sell optical networking products to Telefonica SA.
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