Renewed confidence in the European economy lifted the markets to a modestly higher open with the Dow adding a point to 10,435. Nasdaq edged up a point to 2308.
On the upside
Amylin Pharmaceuticals (Nasdaq: AMLN) will present data on its approved diabetes drugs Byetta injection and Symlin injection as well as its experimental extended release injectable Bydureon at the American Diabetes Association's 70th Annual Scientific Session being held June 25 through June 29.
CVS Caremark (NYSE: CVS) and Walgreens (NYSE: WAG) resolved their conflict over pharmacy benefits and signed a new multi year contract.
Covanta Holding (NYSE: CVA) declared a special cash dividend of $1.50 per share payable on July 20, 2010 to shareholders of record July 12, 2010. The company will also repurchase up to $150 million worth of common shares.
On the downside
El Paso Pipeline Partners (NYSE: EPB) priced its offering of 10 million common units at $28.80 per unit.
HCP (NYSE: HCP) announced a public offering of 13.5 million common shares at $33.00 per share.
General Maritime (NYSE: GMR) priced its public offering of 30.6 million common shares at $6.75 per share.
In the broad market, declining issues barely outpaced advancers by a margin of nearly 9 to 7 on the NYSE and by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped a point to 664.
