On the upside
Amgen and Array BioPharma (Nasdaq: ARRY) will jointly develop a type 2 diabetes treatment.
Abbott Laboratories (NYSE: ABT) will pay $123 million in cash to acquire Starlims Technologies (Nasdaq: LIMS).
Arena Pharmaceuticals (Nasdaq: ARNA) will file for FDA approval of its obesity treatment lorcaserin this month.
On the downside
GenCorp (NYSE: GY) will offer up to $125 million in convertible subordinated debentures through a private placement.
Factset Research (NYSE: FDS) reported first quarter revenue slightly below estimates and forecast second quarter results that fell short of expectations.
UBS initiated coverage of Marshall & Ilsley (NYSE: MI) with a Sell rating.
In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE while advancers edged out decliners by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 611.
