On the upside
Shares of Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE) rebounded on hopes that the Federal Reserve bank may intervene and prevent foreclosures by extending its lending efforts to investment banks.
PriceSmart (Nasdaq: PSMT) which operates shopping warehouse clubs in Central America and the Caribbean posted 3rd quarter profits that doubled.
Stage Stores (NYSE: SSI) reported higher same-store sales in June. The clothing and accessories retailer affirmed its 2nd quarter outlook.
On the downside
VMware (NYSE: VMW) abruptly replaced its co-founder CEO without explanation. Shares of controlling shareholder EMC (NYSE: EMC), a data storage company, also fell.Shares of Chevron (NYSE: CVX) and United States Oil (NYSE: USO) fell as oil prices retreated.
Shares of InterDigital (Nasdaq: IDCC) tumbled after the U.S. International Trade Commission issued a nonbinding ruling against the wireless technology developer in a patent dispute against Samsung Electronics.
In the broad market, advancing issues edged out decliners by a
margin of nearly 2 to 1 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap
stocks surged 24 points to close at 682.
