On the upside
Medtronic will pay approximately $816 million to acquire orthopedic devices maker China Kanghui Holdings (NYSE: KH).
Facebook (Nasdaq: FB) introduced its Gifts service to a segment of its users allowing users to send real gifts to their friends.
On the downside
Shares of Catalyst Pharmaceutical Partners (Nasdaq: CPRX) continued falling after announcing on Wednesday that midstage clinical trial data from a cocaine addiction study would be delayed.
Iridium Communications (Nasdaq: IRDM) priced a private offering of convertible preferred stock at $100 per share.
Bank of America (NYSE: BAC) agreed to settle a shareholder lawsuit over the bank's acquisition of Merrill Lynch by paying $2.43 billion.
In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks lost 4 points to 839.