On the upside
J.M. Smucker (NYSE: SJM) posted higher quarterly revenues and earnings that beat expectations as its Folgers coffee business reported improving margins.
Ann Taylor (NYSE: ANN) reported lower revenues and profits that topped estimates. The women's apparel chain operator offered an outlook of continued modest sales declines.
Shares of E-Trade Financial (Nasdaq: ETFC) rose in heavy trading amid speculation of a possible takeover offer by rivals.
On the downside
Home builder D R Horton (NYSE: DHI) posted a smaller 4th quarter loss as overall revenues slumped amid an unstable housing market.
ADC Telecommunications (Nasdaq: ADCT) announced a modest quarterly loss, but investors were worried about weak 4th quarter demand from major telecom carriers.
Dell (Nasdaq: DELL) reported quarterly results that missed both revenue and earnings target.
In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by 3 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped a point to 583.