On the upside
Molycorp (Nasdaq: MCP) priced its public offering of 37.5 million common shares at the discounted price of $6.00 per share but the stock price rose.
Bargain hunters snapped up shares of Cirrus Logic (Nasdaq: CRUS), whose stock price fell yesterday on a disappointing forecast.
On the downside
Concerns that Ctrip.com International (Nasdaq: CTRP) will begin offering rebate coupons for airfares weighed down shares of the travel services firm. Shares of AuRico Gold (NYSE: AUQ), Eldorado Gold (NYSE: EGO) and Kinross Gold (NYSE: KGC) fell as gold prices retreated.
Ship Finance International (Nasdaq: SFL) will offer $250 million in convertible senior notes.
In the broad market, advancing issues outpaced decliners by a margin of more than 9 to 7 on the NYSE and by nearly 5 to 4 on Nasdaq. The broader S&P 500 index rose 7 points to 1501.