On the upside
Clear Channel (NYSE: CCO) is one of Abrams Capital Management's top four small cap holdings.
Nautilus (NYSE: NLS) reported higher preliminary fourth quarter earnings and revenue.
On the downside
Solazyme (Nasdaq: SZYM) will offer $100 million in convertible senior subordinated notes. Theravance (Nasdaq: THRX) will offer $250 million in convertible senior subordinated notes.
Jefferies & Co. downgraded Leap Wireless (Nasdaq: LEAP) to an Underperform rating.
In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 index rose 8 points 1480.