On the upside
Rumors swirled that GlaxoSmithKline may be interested in acquiring Allergan (NYSE: AGN).
American Capital Agency (Nasdaq: AGNC) declared a first quarter dividend of $0.85 per share payable on April 27, 2009 to shareholders of record April 2, 2009. American Capital Agency is managed by an affiliate of American Capital Ltd. (Nasdaq: ACAS).
International Paper (NYSE: IP) received $71.6 million from the Internal Revenue Service for an alternative fuel mixture the company used at fifteen of its mills.
On the downside
T-3 Energy Services (Nasdaq: TTES) named Steven W. Krablin to replace Gus D. Halas as chairman, chief executive and president.
Huntington Bancshares (Nasdaq: HBAN) agreed to exchange approximately 9 million shares of common stock held by institutional investors for approximately 43,000 shares of Series A Preferred Stock.
In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 9 points to 424.