On the upside
American Express (NYSE: AXP) paid $251 million in cash to acquire a 13% stake in expense report software maker Concur Technologies (Nasdaq: CNQR).
Moody's Investors Service cited AK Steel's (NYSE: AKS) improved operating and financial profile for placing the company under review for a possible upgrade.
ArvinMeritor (NYSE: ARM) reversed year ago losses to post a profit for the third quarter as global demand increased.
On the downside
Idearc (NYSE: IAR) disappointed with lower second quarter earnings that fell short of estimates.Providence (Nasdaq: PRSC) cut its second quarter guidance as well as its full year outlook due to contract delays and the budgetary constraints of clients.
Although Harmonic (Nasdaq: HLIT) reported second quarter earnings that surged more than three times year ago levels, the stock price tumbled.
In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on both the NYSE and Nasdaq. The Russell 2000 which tracks small cap stocks soared 15 points to 711.
