On the upside
Cantor Fitzgerald analyst Pamela Bassett upgraded Sequenom (Nasdaq: SQNM) to a Buy rating after the biotech settled a class action lawsuit.
Rumors circulated that Massey Energy (NYSE: MEE) may purchase Patriot Coal (NYSE: PCX).
Fourth quarter earnings for McDermott International (NYSE: MDR) more than doubled.
On the downside
Arena Resources (NYSE: ARD) blamed sharply higher expenses for lower fourth quarter earnings that missed estimates.
Correctional facilities operator The GEO Group (NYSE: GEO) attributed the Federal Bureau of Prisons' solicitation cancellation for a facility in Baldwin, Michigan to funding problems.
TNS (NYSE: TNS) blamed refinancing expenses for widening fourth quarter losses.
In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on the NYSE and by 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 5 points to 648.
