On the upside
O'Reilly Automotive (Nasdaq: ORLY) reported sharply higher fourth quarter net income as revenue surged and forecast full year 2009 earnings ahead of expectations.Although Advance Auto Parts (NYSE: AAP) posted lower fourth quarter earnings due to a slow inventory charge, the results beat expectations.
Strong holiday sales prompted GameStop (NYSE: GME) to lift its fourth quarter guidance and forecast full year results ahead of estimates.
On the downside
Although BioMarin Pharmaceutical (Nasdaq: BMRN) reported sharply higher fourth quarter earnings as revenue more than doubled, the results fell short of estimates and the biotechnology firm forecast full year results below expectations prompting a downgrade.
CapitalSource (NYSE: CSE) will swap a bond holder's senior subordinated convertible notes for nearly 20 million shares of common stock.
Fourth quarter earnings for CryoLife (NYSE: CRY) surged top estimates but the company forecast lower full year results.
In the broad market, declining issues outpaced advancers by a margin of 7 to 5 on the NYSE and by 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 422.
