On the upside
Shares of STEC (Nasdaq: STEC) surged after the data storage equipment maker raised its guidance for the current quarter.
Analysts upgraded Goldcorp (NYSE: GG) whose sector is benefiting from a surge in commodity prices.
Tyco Electronics (NYSE: TEL) raised its outlook for the 3rd quarter due to rising revenues and a favorable currency exchange rate.
On the downside
Home electronics retailer Best Buy (NYSE: BBY) posted lower profits that beat expectations. However, the company did not raise guidance for the rest of the year which disappointed investors.
Genzyme (Nasdaq: GENZ) faced production delays after a virus was detected at one of its plants.
FactSet Research Systems (NYSE: FDS) posted higher quarterly sales and earnings while raising its outlook. Nonetheless, its share fell in early trading.
In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks added 3 points to 514.
