On the upside
Verizon Communications (NYSE: VZ) posted higher 3rd quarter earnings as a gain of 1.5 million wireless subscribers beat expectations.
Embarq Corp (NYSE: EQ) received a $5.8 billion all-stock offer from rural telephone company CenturyTel (NYSE: CTL).
On the downside
Arch Coal (NYSE: ACI) reported sharply higher revenues and earnings due to strong demand, but investors worried about the coal producer's outlook.
Shares of medical device maker Thoratec (Nasdaq: THOR) tumbled after the company recalled its small mechanical heart pump that was blamed for the deaths of five patients.
In the broad market, declining issues outpaced advancers by a margin
of more than 3 to 1 on the NYSE and by nearly 4 to 1 on Nasdaq. The Russell
2000 which tracks small cap stocks dropped 8 points to 462.