On the upside
Fourth quarter earnings for Conexant Systems (Nasdaq: CNXT) leaped despite lower revenue as the company cut expenses and sold a business.
Bare Escentuals (Nasdaq: BARE) reported third quarter earnings that topped estimates.
First quarter earnings for Estee Lauder (NYSE: EL) more than doubled after the successful launch an anti-aging skin care line.
On the downside
Although Novatel (Nasdaq: NVTL) reported third quarter earnings that surpassed expectations by a wide margin, the company forecast disappointing fourth quarter results.
Tessera Technologies (Nasdaq: TSRA) reversed year ago losses but forecast fourth quarter revenue below expectations.
Although Mohawk Industries (NYSE: MHK) swung to a third quarter profit, the company warned of continued market weakness.
In the broad market, declining issues outpaced advancers by a margin of nearly 6 to 1 on the NYSE and by more than 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 17 points to 562.