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Behind GE’s big 1-day gain; Netflix analyst upgrade

Yahoo Finance

Here is your daily dose of trending tickers, the stocks we’re following based on your Yahoo Finance ticker searches.

General Electric (GE)

GE (GE) is biding ‘so long, farewell’ to its banking arm and investors couldn't be happier. Shares popped more than 8% Friday morning, putting the industrial behemoth and original Dow (^DJI) component on track for its biggest one-day gain since November 2011.

Looking at developments, GE will sell the bulk of its assets in its GE Capital unit, which is currently as big as the nation's seventh-largest bank, and use the proceeds to fund a $50 billion buyback. GE said its intent is to create a "simpler, more valuable company" with more than 90% of its earnings generated by its industrial businesses by 2018. That’s up from 58% in 2014.

Horizon Pharma (HZNP)

Meanwhile, shareholders of Horizon Pharma (HZNP) have their sights set on a promising new drug. The stock climbed 3% after Horizon Pharma received fast track designation for its new drug Actimmune used to treat Friedreich’s ataxia, an inherited disease causing nervous-system damage that often results in motor incapacitation and the use of a wheelchair.

Horizon said there are currently no FDA-approved treatments for the disorder. About one in 50,000 people is affected by this disease.

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Netflix (NFLX)

Investors' love-hate relationship with Netflix (NFLX) is turning affectionate again. Shares of the Internet media titan gained a little over two percent at the open with the stock up 9% this week.

The latest advance was likely triggered by analysts at Citi, who upgraded Netflix to "buy" from "neutral," saying it doesn't share competition concerns that are currently reflected in the stock's price. Also, they noted Netflix has become disruptive in the industry – altering viewing habits. Citi’s (C) price target for Netflix is now $525 -- about 16.5% above current levels.

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