On the upside
The Minneapolis Star Tribune reported that Best Buy (NYSE: BBY) founder Richard Schulze was prepared to make a bid of up to $6 billion to the consumer electronics retailer.
Oncolytics Biotech (Nasdaq: ONCY) reported positive results from a Phase III clinical trial of its head and neck cancer treatment Reolysin.
On the downside
Harbinger Group (NYSE: HRG) priced its secondary offering of 20 million common shares at the discounted price of $7.50 per share.
CorEnergy Infrastructure Trust (NYSE: CORR) priced its public offering of 18.5 million common shares at the discounted price of $6 per share.
Hovnanian Enterprises (NYSE: HOV) narrowed fourth quarter losses but analysts remained concerned about the homebuilder's long term profitability.
In the broad market, declining issues outpaced advancer by a margin of nearly 10 to 9 on the NYSE while advancers outpaced decliners by more than 10 to 9 on Nasdaq. The broader S&P 500 index edged up a point to 1430.