On the upside
Coherent (Nasdaq: COHR) reversed year ago losses to post a profit for the first quarter and the company raised its full year sales outlook.
Ruddick (NYSE: RDK) reported higher first quarter earnings that topped estimates prompting an upgrade.
Integrated Silicon Solution (NYSE: ISSI) swung to a first quarter profit as revenue surged.
On the downside
The Food and Drug Administration requested more data from Theravance (Nasdaq: THRX) for the use of telavancin to treat hospital-acquired pneumonia.
Fourth quarter earnings for Computer Programs and Systems (Nasdaq: CPSI) tumbled despite higher revenue.
Airgas (NYSE: ARG) reported sharply lower third quarter earnings that fell short of expectations as revenue dropped.
In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 3 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 5 points to 602.
