On the upside
Medarex (Nasdaq: MEDX) will be acquired by Bristol-Myers (NYSE: BMY) in an all cash $2.1 billion deal.
Fifth Third Bancorp (Nasdaq: FITB) reversed year ago losses to swing to a second quarter profit due to the sale of its controlling interest in a processing business.
Although second quarter earnings fell for Thermo Fisher Scientific (NYSE: TMO), revenue topped estimates and the scientific instrument maker lifted its full year earnings and revenue outlook.
On the downside
FreeSeas (Nasdaq: FREE) will offer approximately 8.7 million common shares at $1.80 per share to raise capital.
Cell Therapeutics (Nasdaq: CTIC) plans to offer approximately 29.3 million common shares.
While SanDisk (NYSE: SNDK) swung to a second quarter profit, the memory chip maker forecast third quarter revenue that fell short of expectations.
In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 531.
