On the upside
Shares of Convergys (NYSE: CVG) surged after the business outsourcing services provider posted a loss and small decline in revenues while projecting growth for 2009.Zions Bancorporation (Nasdaq: ZION) posted nearly $500 million in 4th quarter losses mostly due to noncash impairment charges related to its subsidiary banks.
On the downside
Verizon Communications (NYSE: VZ) reported higher earnings, but one-time charges for job cuts trimmed results while revenue and subscriber growth missed expectations.Delta Air Lines (NYSE: DAL) posted a massive $1.4 billion loss due to employee stock awards and charges from fuel hedges.
Chemical maker DuPont (NYSE: DD) posted a 4th quarter loss and lowered its 2009 forecast.
Dow Chemical (NYSE: DOW) warned that it may cut its dividend while the company struggled to complete an acquisition of rival Rohm & Haas (NYSE: ROH).
In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 452.