On the upside
Knight Capital Group (Nasdaq: NITE) reported sharply higher fourth quarter earnings that beat analyst expectations.
Fitch Ratings lowered its ratings for State Street (NYSE: STT) due to a drop in capital levels but the stock price surged after Anton Schutz of Mendon Capital and Burnham Asset Management recommended the stock.
Although Brinker International (Nasdaq: EAT) reported a loss for the second quarter due one time charges and the sale of the Macaroni Grill chain, the results surpassed estimates.
On the downside
Puerto Rican bank Popular (Nasdaq: BPOP) blamed the economic crisis for widening fourth quarter losses.
Seagate Technology (Nasdaq: STX) disappointed with a wider than expected second quarter loss and forecast third quarter results below estimates.
Shares of Aflac (NYSE: AFL) plummeted over concerns that the insurer may be exposed to losses from hybrid securities.
In the broad market, declining issues outpaced advancers by a margin of more than 5 to 1 on the NYSE and by more than 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 17 points to 440.
