On the upside
Investor concerns that Rambus' (Nasdaq: RMBS) antitrust suit against Micron Technology (NYSE: MU) and Hynix Semiconductor would be delayed proved to be unfounded as a court date of September 28 appeared more certain.
The Federal Deposit Insurance Corp. approved BB&T's (NYSE: BBT) plan to purchaser Colonial Bancorp branches and deposits.
U-Store-It Trust (NYSE: YSI) priced its offering of 28 million common shares at $5.25 per share.
On the downside
Although Cardica (Nasdaq: CRDC) narrowed fourth quarter losses, revenue fell prompting a downgrade.
Shares of Temple-Inland (NYSE: TIN) fell after Moody's said that demand will continue to be weak for the packaging industry.
Satcon (Nasdaq: DAR) narrowed second quarter losses but the results fell short of estimates and revenue dropped.
In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on the NYSE and by more than 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 11 points to 563.
