On the upside
Image Entertainment (Nasdaq: DISK) received $1.3 million from Nyx Acquisitions for breach of their merger agreement.Analysts upgraded DuPont Fabros Technology (NYSE: DFT) after the company reported fourth quarter and full year results in line with expectations.
Merrill Lynch upgraded Continental Airlines (NYSE: CAL) citing a drop in the stock price over the last month.
On the downside
La Jolla Pharmaceutical (Nasdaq: LJPC) and BioMarin Pharmaceutical (Nasdaq: BMRN) halted a clinical trial of their lupus treatment Riquent because the drug failed to produce results.Terex (NYSE: TEX) swung to a fourth quarter loss, announced job cuts, forecast 2009 revenue below expectations and warned that it may violate terms of a debt covenant.
Gildan Activewear (NYSE: GIL) blamed decreasing sales and higher expenses for sharply lower first quarter earnings and suspended its full year guidance.
In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 2 points to 446.
