On the upside
JA Solar Holdings (Nasdaq: JASO) swung to a greater than expected profit for the fourth quarter as revenue surged and lifted its shipment outlook for the full year.
While Activision (Nasdaq: ATVI) widened fourth quarter losses, the results topped estimates due to strong sales of its "Call Of Duty: Modern Warfare 2" game. The company also announced a new annual dividend of 15 cents per share and a plan to repurchase up to $1 billion worth of stock.
FirstEnergy (NYSE: FE) will acquire Allegheny Energy (NYSE: AYE) in an all stock deal valued at approximately $4.7 billion to create a new company with over 6 million customers and $16 million in revenue each year.
On the downside
Alcatel-Lucent (NYSE: ALU) posted a modest profit for the fourth quarter but revenue fell and the telecommunications company tempered expectations for its turnaround plan.
Boston Scientific (NYSE: BSX) reported a loss for the fourth quarter and announced restructuring plans that include the elimination of up to 1,300 jobs.
Masco (NYSE: MAS) narrowed fourth quarter losses but revenue fell.
In the broad market, advancing issues edged out decliners by a slim margin on the NYSE while decliners outpaced advancers by a margin of nearly 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 594.
