On the upside
Spectrum Brands (NYSE: SPB) will pay approximately $1.4 billon in cash to acquire Stanley Black & Decker's hardware and home improvement business.
Goldman Sachs upgraded Eli Lilly (NYSE: LLY) from a Sell rating to Neutral.
On the downside
Bank of America/Merrill Lynch analyst Nat Schindler downgraded Netflix (Nasdaq: NFLX) to an Underperform rating.
Credit Suisse analyst Wallace Cheung downgraded Baidu (Nasdaq: BIDU) to an Underperform rating.
Forbes reported that Verifone (NYSE: PAY) rival Square was close to finalizing a deal to introduce Square's payment system in New York taxi cabs.
In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 2 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 8 points to 829.