Citigroup jumps on settlement, earnings

Citigroup Inc. C +3.66% : The bank said it would pay $7 billion to settle claims regarding sales of mortgages before the financial crisis. The company also beat consensus forecasts for second-quarter earnings. The stock was up 3.7%.

Apple Inc. AAPL +0.78% : The tech giant denied that the location tracker on its iPhone is a threat to Chinese national security. The company also had its rating raised to buy from analysts at Barclays, according to news reports. The stock climbed 0.8%.

Mylan Inc. MYL +1.20% : The pharmaceuticals company entered into a deal with the developed markets branded generics business of Abbott Laboratories ABT +2.28%  in a transaction worth $5.3 billion. Shares were up 3.5%.

AbbVie Inc. ABBV -2.20% : The company was in focus after Shire PLC UK:SHP +1.17%  said it received a new takeover offer from AbbVie, which it is willing to recommend to shareholders. Shares of AbbVie fell 2%.

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