On the upside
Melco Crown Entertainment (Nasdaq: MPEL) narrowed second quarter losses as revenue surged.
General Motors (NYSE: GM) announced that the design of its electric Volt will be finalized in mid-September with prototypes ready by the end of the year.
Gannett (NYSE: GCI) blamed declining advertising sales for its plan to eliminate 1,000 positions.
On the downside
Citi Investment Research analyst Brian Chin downgraded Shaw Group (NYSE: SGR) saying that construction of nuclear power plants will not increase despite record oil prices.
Falling gold prices weighed down shares of Goldcorp (NYSE: GG) and Kinross Gold (NYSE: KGC).
A Citigroup Global Markets analyst downgraded McDermott International (NYSE: MDR) and slashed his price target for the engineering and construction company.
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 7 points to 754.
