On the upside
Rumors circulated that Micron Technology (NYSE: MU) is exploring a possible merger with Taiwanese firms Nanya Technology or Inotera Memories in an effort to tap bailout money from the Taiwanese government.The $7.4 billion acquisition of Puget Energy (NYSE: PSD) by Puget Holdings will close on February 6, 2009.
Despite sharply lower fourth quarter earnings as revenue tumbled, shares of Intel (Nasdaq: INTC) rose over optimism that the chip maker will rebound.
On the downside
Shares of Allied Irish Banks (NYSE: AIB) tumbled after the Irish government announced the nationalization of Anglo Irish Bank.Belden (NYSE: BDC) lowered its fiscal 2008 guidance as demand softened.
Webster Bank (NYSE: WBS) announced that it will record $130 million in non-cash charges for the fourth quarter as well as $100 million for loan loss provisions.
In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by more than 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks added 4 points to 466.
