On the upside
Gilead Sciences (Nasdaq: GILD) will partner with Indian manufacturers to produce low-cost generic versions of its HIV treatment emtricitabine for developing countries.
First Solar (Nasdaq: FSLR) reported sharply higher second quarter earnings that surpassed expectations by a wide margin as revenue soared and lifted its full year guidance.
On the downside
Knight Capital Group (NYSE: KCG) blamed a new trading software program for incurring a $440 million loss yesterday from erroneous transactions and said that the broker must raise capital.
MGIC Investment (NYSE: MTG) widened second quarter losses more than expected and must raise $200 million in order to comply with the maximum regulatory risk-to-capital ratio.
The Food and Drug Administration rejected Halozyme Therapeutics' (Nasdaq: HALO) HyQ citing safety concerns.
In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE while advancers edged out decliners by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 772.