On the upside
InterMune (Nasdaq: ITMN) reported upbeat results for a late stage clinical trial of its lung disease treatment pirfenidone.A late stage trial combining OSI Pharmaceuticals' (NYSE: OSIP) Tarceva and Genentech's (NYSE: DNA) Avastin stopped the spread of non-small cell lung cancer for a longer period than Avastin alone.
Warren Buffet's Berkshire Hathaway purchased a stake in Harley-Davidson's (NYSE: HOG) through the motorcycle company's new $600 million offering.
On the downside
Motorola (NYSE: MOT) widened fourth quarter losses as sales tumbled, suspended its dividend and announced the resignation of CFO Paul Liska after less than a year in the position.Citi Investment Research analyst Anil Daswani initiated coverage of MGM Mirage (NYSE: MGM) with a Sell rating saying that default rates could reach 30% for the condominium units at the casino resort operator's newly completed CityCenter.
Completer Production Services (NYSE: CPX) disappointed with lower fourth quarter earnings.
In the broad market, advancing issues outpaced decliners by a margin of 10 to 9 on the NYSE while decliners barely edged out advancers by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 448.
