On the upsideCVS Caremark (NYSE: CVS) posted lower profits due to a slowdown in discretionary spending. However, overall revenues was boosted by the acquisition of Longs Drugs stores.
Kraft Foods (NYSE: KFT) reported higher profits and lower revenues due to a strong dollar weighing down international sales results.
Pegasystems (Nasdaq: PEGA) posted record revenues and profits that beat estimates. The company makes business process management software solutions.
On the downside
In the broad market, declining issues outpaced advancers by a margin of 4 to 3 on the NYSE and by 3 to 2 on Nasdaq. The Russell 2000 which tracks small cap dropped 4 points to 502.