On the upside
Hearst Corp. offered approximately $375 million to take Hearst Television (NYSE: HTV) private.
Clear Channel Outdoor (NYSE: CCO) will extend its partnership with the Federal Bureau of Investigation by one year to use its digital billboards to capture fugitives.
Staples (Nasdaq: SPLS) will raise $500 million through the sale of senior notes in order to pay down debt.
Moody's Investors Service downgraded the credit rating of Wells Fargo (NYSE: WFC) but the stock price rose.
On the downside
International Paper's (NYSE: IP) chief executive John V. Faraci received a compensation package valued at $10.3 million in 2008.
Although durable goods orders rose, orders for new cars slipped by 0.6% to weigh down shares of Ford (NYSE: F).
In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 10 points to 427.
