On the upside
H&R Block (NYSE: HRB) reported higher fourth quarter earnings that beat analyst expectations.
EXCO Resources (NYSE: XCO) will sell a 50% stake in its Haynesville shale to BG Group for $1.3 billion.
Novavax (Nasdaq: NVAX) will develop genetically engineered pandemic and seasonal flu vaccines for the Spanish government.
On the downside
Raser Technologies (NYSE: RZ) will sell $25.5 million worth of common stock and warrants to institutional investors through a registered direct offering.
Broadcom (Nasdaq: BRCM) increased its hostile takeover of Emulex (NYSE: ELX) to $11 per share. Emulex rejected Broadcom's acquisition overtures earlier this year.
HCP (NYSE: HCP) filed a breach of contract complaint against Sunrise Senior Living (NYSE: SRZ) and is pursuing legal avenues to terminate agreements on 64 properties.
In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 508.
