On the upside
Coca-Cola (NYSE: KO) will acquire bottler Coca-Cola Enterprises' (NYSE: CCE) North American operations.
Express Scripts (Nasdaq: ESRX) reported higher fourth quarter profit as revenue surged.
Mylan (NYSE: MYL) reversed year ago losses to post a greater than expected profit for the fourth quarter.
On the downside
Palm (Nasdaq: PALM) blamed disappointing demand for cutting its revenue outlook for the third quarter as well a the full year.
Oppenheimer analyst Dr. Brian Abrahams downgraded Anadys Pharmaceuticals (Nasdaq: ANDS) after the company reported that its hepatitis C treatment was barely more effective than a placebo.
Fourth quarter earnings for Foster Wheeler (Nasdaq: FWLT) tumbled as demand and prices fell.
In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 1 on the NYSE and by more than 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 7 points to 622.
