Market movers: Stocks seeing action on Wednesday - and why

) surged on Wednesday following the dismissal of thousands of U.S. lawsuits claiming that the heartburn drug Zantac caused cancer.

The Florida outcome represents a “nice early Christmas present for the defendants. Was this all just a storm in a tea-cup after all?,” Bernstein analysts wrote in a note. Originally marketed by a forerunner of GSK, the medicine has been sold by several companies at different times, including Pfizer, Boehringer Ingelheim and Sanofi as well as a plethora of generic drugmakers.

In the first few of hours of Wednesday trading, more of GSK’s London-listed stock changed hands than the average for a full day over the past five years, according to Refinitiv data.) was up following the late Tuesday announcement that it has reached a deal with Elliott Management, the activist investment firm that has offered up ideas on how to improve operations at the image sharing and social media service company.

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