On the upside
Cisco Systems (Nasdaq: CSCO) raised its bid for Norway's Tandberg which makes videoconferencing equipment from $3 billion to $3.4 billion.
Shares of Landry's Restaurants (NYSE: LNY) rose after one of its largest shareholders opposed the sale of the hotel, casino and restaurant operator to the company's CEO.
An analyst upgraded United Rentals (NYSE: URI) which rents construction equipment.
On the downside
Shares of Poniard Pharmaceuticals (Nasdaq: PARD) collapsed after the company reported disappointing late-stage results for its cancer drug candidate.
American Dairy (NYSE: ADY) posted higher revenues and a modest income while converting debt notes to equity. Investors took profits on the China-based maker of infant formula and soybean products.
Universal Travel Group (NYSE: UTA) reported higher revenues and earnings slipped. The company provides ticketing and travel packages in China.
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 1 on the NYSE and by 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 10 points to 596.
