On the upside
Jihe Orient Wind Energy awarded A-Power Energy Generation Systems (Nasdaq: APWR) a $90.5 million contract to build a wind farm in Mongolia.
Synovus Financial (NYSE: SNV) announced plans to raise approximately $500 million through a stock offering and a debt exchange offering.
Martha Stewart (NYSE: MSO) branded merchandise will be available at Home Depot (NYSE:HD) beginning in 2010.
On the downside
An independent committee recommended that Ariad Pharmaceuticals (NYSE: ARIA) continue enrolling subjects in its late stage cancer treatment drug trial but the stock price fell.
Smithfield Foods (NYSE: SFD) will raise capital through a $250 million common stock offering. Paul Fribourg resigned his board seat in protest of the offering saying that shareholder value will be diluted.
Rumors that the federal government may begin selling its stake in Citigroup (NYSE: C) sent the stock price tumbling.
In the broad market, advancing issues edged out decliners by a margin of nearly 7 to 3 on the NYSE and by a margin of more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks added 4 points to 604.
