On the upside
Oppenheimer analyst Bret Holley initiated coverage of Ariad Pharmaceuticals (Nasdaq: ARIA) with an Outperform rating.
CIT Group (NYSE: CIT) repurchased nearly 60% of debt to stave off bankruptcy.
On the downside
Sinoenergy (Nasdaq: SNEN) swung to a third quarter loss as revenue tumbled.
Repros Therapeutics (Nasdaq: RPRX) widened second quarter losses and warned that it may file for bankruptcy because it does not have enough cash for ongoing operations.
China Direct Industries (Nasdaq: CDII) swung to a loss for the second quarter.
Developers Diversified Realty (NYSE: DDR) commenced three tender offers last week for certain notes.
In the broad market, declining issues overwhelmed advancers by a margin of more than 7 to 1 on the NYSE and by more than 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 14 points to 549.
