On the upside
CVS Caremark (NYSE: CVS) offered $2.7 billion to acquire drugstore operator Longs Drugs Stores (NYSE: LDG).
Soft drink company Dr Pepper Snapple Group (NYSE: DPS) raised its outlook for 2008. The company spun off from Cadbury Schweppes PLC in May.
Shares of Nvidia (Nasdaq: NVDA) rose on heavy volume after the chip maker posted a loss due to a one-time product warranty charge. The results beat expectations as analysts upgraded the stock.
On the downside
Deere & Co (NYSE: DE) posted higher 3rd quarter profits and revenues driven by higher farm prices, but the results missed expectations.
Department store operator Macy's (NYSE: M) reported a slight decline in 2nd quarter earnings and lowered its full-year outlook due to slow consumer spending.
Shares of Tween Brands (NYSE: TWB) tumbled to an all-time low after the teen apparel retailer posted a 2nd quarter loss that missed estimates. Analysts promptly downgraded the stock.
In the broad market, declining issues outpaced advancers by a margin
of nearly 2 to 1 on the NYSE, but were even on Nasdaq. The
Russell 2000 which tracks small cap stocks lost a fraction to 744.
