On the downside
Second quarter earnings for Knight Capital Group (Nasdaq: NITE) rose as trading revenue increased but the results fell short of estimates.
Gannett (NYSE: GCI) blamed sharply lower revenue for a drop in second quarter earnings.
Alesco Financial (NYSE: AFN) must record an $86 million loss from the real estate investment trust's investment in collateralized debt obligations issued by IndyMac.
In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by a margin of nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks surged 12 points to 674.