On the upsideDiscount retailer Big Lots (NYSE: BIG) posted earnings that beat estimates while meeting revenue goals.
Canadian Solar (Nasdaq: CSIQ) raised its 1st quarter guidance due to strong demand supported by higher production capacity.
Shares of Packeteer (Nasdaq: PKTR) surged after the developer of bandwidth management systems received a $200 million cash offer from hedge fund Elliott Associates.
On the downside
Shares of Logility (Nasdaq: LGTY) tumbled after the supply chain software provider offered a preliminary look at declining revenues and earnings for the 1st quarter.
Biotechnology research firm PDL BioPharma (Nasdaq: PDLI) abandoned efforts to sell itself and planned to cut half of its staff. Analysts promptly downgraded the stock.
In the broad market, advancing issues outpaced decliners by
a margin of 3 to 1 on the NYSE and by nearly 2 to 1 on Nasdaq.
The Russell 2000 which tracks small cap stocks added 5 points to 686.