On the upside
Citi Investment Research upgraded Amylin Pharmaceuticals (Nasdaq: AMLN) in anticipation of regulatory approval for its once-weekly injectable diabetes treatment exenatide LAR.
Zions Bancorp (Nasdaq: ZION) narrowed fourth quarter losses due to significantly lower impairment charges.
Tellabs (Nasdaq: TLAB) reported sharply higher fourth quarter earnings that topped estimates.
On the downside
Weatherford International (NYSE: WFT) swung to a loss due to lower revenue and one time charges.
United States Steel (NYSE: X) disappointed with its fourth quarterly loss in a row as revenue plunged. The steel company warned of losses for the current quarter as well.
Oppenheimer analyst Carl McDonald downgraded Cigna (NYSE: CI) saying that the insurer's Medicare Advantage prices are significantly underpriced.
In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 2 on the NYSE and by a margin of 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 3 points to 614.