On the upside
SciClone Pharmaceuticals (Nasdaq: SCLN) reversed year ago losses to post a second quarter profit as revenue surged.
CIT Group (NYSE: CIT) made the terms of its $1 billion tender offer more favorable.
American International Group (NYSE: AIG) named former MetLife chief executive Robert H. Benmosche to replace Edward Liddy as its chief executive beginning August 10.
On the downside
Although second quarter earnings rose to top estimates for BigBand Networks (Nasdaq: BBND), the company warned of possible losses for the third quarter due to slower order rates.
ValueClick (Nasdaq: VCLK) reported lower second quarter earnings as revenue dropped.
Charles River Laboratories (NYSE: DF) blamed decreasing sales for a sharp drop in second quarter earnings and lowered its full year outlook.
In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 8 points to 562.
