On the upside
DryShips (Nasdaq: DRYS) renegotiated the terms of its loans in order to regain compliance with its lenders.D. R. Horton (NYSE: DHI) reported a smaller than expected loss for the fourth quarter as the homebuilder cut expenses.
Although first quarter earnings for Tyco International (NYSE: TYC) dropped, the results topped analyst estimates.
On the downside
Perrigo (Nasdaq: PRGO) disappointed with lower second quarter earnings that fell short of expectations and lowered its full year guidance.Fears that American International Group (NYSE: AIG) will need additional government funds to remain solvent sent shares of the insurer plunging. The company has already received a $150 billion bailout package.
Trident Microsystems (Nasdaq: TRID) swung to a second quarter loss as revenue plunged.
In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 453.
