On the upside
American Airlines (NYSE: AMR) received $2.9 billion in financing including $1 billion in cash from the sale of frequent flyer miles to Citigroup.
Zargis Medical received FDA clearance to sell its heart and lung sound recording device to the U.S. Army. The company is majority-owned by Speedus Corp. (Nasdaq: SPDE).
Shares of Hovnanian Enterprises (NYSE: HOV) and Pulte Homes (NYSE: PHM) edged higher as construction of new homes and construction rose 3.3% in August.
On the downside
Shares of Oracle (Nasdaq: ORCL) fell after reporting revenues and earnings late yesterday that missed expectations.
Discover Financial Services (NYSE: DFS) posted 3rd quarter profits that tripled boosted by a payment from a lawsuit settlement. The card lender also increased its loan-loss reserves.
Synovus Financial (NYSE: SNV) priced 150 million new shares at $4 apiece.
In the broad market, advancing issues outpaced decliners by a margin of 5 to 4 on both the NYSE and Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 618.
