On the upside
The Food and Drug Administration gave formal clearance to Elron (Nasdaq: ELRN) to market its Solo MicroPump Insulin Delivery System in the U.S.
Conseco (NYSE: CNO) announced that it expects to report a second quarter profit as investment losses shrink.
ViroPharma (Nasdaq: VPHM) reported lower second quarter earnings but the results topped analyst expectations.
On the downside
Although THQ (Nasdaq: THQI) reported better than expected first quarter results, the video game developer forecast disappointing second quarter results and announced the offering of $90 million in senior convertible notes.
New York Community Bancorp (NYSE: NYB) reversed year ago losses to post a profit but the savings and loan announced that it will issue common shares.
Alvarion (Nasdaq: ALVR) widened second quarter losses as sales tumbled and announced the resignation of president and chief executive Tzvika Friedman. Friedman will remain with Alvarion until the company names a successor.
In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 548.
