On the upside
The Verge reported that Nokia (NYSE: NOK) and Microsoft (Nasdaq: MSFT) will introduce two Windows 8 phones at a September 5 event.
Hertz Global (NYSE: HTZ) contacted Dollar Thrifty (NYSE: DTG) shareholders to determine a fair price to acquire the rental car company.
On the downside
Credit Suisse downgraded Adtran (Nasdaq: ADTN) to an Underperform rating. Jefferies & Co. analyst Scott A. Mushkin downgraded Safeway (NYSE: SWY) to a Hold rating.
TechInAsia.com reported that Baidu (Nasdaq: BIDU) may sue Qihoo 360 (NYSE: QIHU) over its search engine.
In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 3 points to 809.