On the upside
Advanced Medical Optics (NYSE: EYE) received a $2.8 billion offer from Abbott Laboratories (NYSE: ABT).Palm (Nasdaq: PALM) continued to receive positive buzz for its new mobile operating system.
Shares of Hologic (Nasdaq: HOLX) rose after the medical equipment maker lowered its 1st quarter revenue outlook, but boosted its profit forecast.
On the downside
Alcoa (NYSE: AA) was downgraded by Deutsch Bank. Shares of the aluminum producer and Dow component fell sharply.Citigroup (NYSE: C) continued to negotiate a deal with Morgan Stanley (NYSE: MS) giving up majority control of Smith Barney in exchange for cash.
Gold prices fell for a second straight session weighing down shares of Newmont Mining (NYSE: NEM) and Yamana Gold (NYSE: AUY).
In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 1 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks gave up 4 points to 476.
