On the upside
Ariad Pharmaceuticals (Nasdaq: ARIA) reported upbeat initial results from an advanced blood cancer treatment.
Private equity firm Warburg Pincus will pay $115 million for 11.5 million shares of Webster Bank (NYSE: WBS).
Shares of Novavax (Nasdaq: NVAX) soared on expectations that swine vaccines will be approved before safety data and efficacy results are reviewed.
On the downside
The Pittsburgh Post-Gazette reported that Mylan (Nasdaq: MYL) staff violated government quality control measures at its Morgantown, West Virginia manufacturing plant.
Lazard Capital Markets downgraded Coach (NYSE: COH) a day before the handbag and accesories retailer releases earnings.
While Cott (NYSE: COT) swung to a second quarter profit, revenue fell and teh private label soft drink maker warned that profit growth may be pressured by strong competition amidst the global recession.
In the broad market, advancing issues outpaced decliners by a margin of 10 to 9 on the NYSE, but were edged out by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 547.
