On the upside
CSX (NYSE: CSX) reported lower second quarter earnings but the results topped analyst estimates.
Shares of Gannett (Nasdaq: GCI) rose ahead of its earnings release tomorrow.
On the downside
Sinclair Broadcast (Nasdaq: SBGI) warned that it may file for Chapter 11 bankruptcy protection as advertising revenue continues falling and the television station owner must carry a heavy debt load.
Central Pacific Financial (NYSE: CPF) warned of a wider than expected loss for the second quarter due to higher credit expenses. The company said it will offer $100 million worth of common shares in order to raise capital.
Dell (Nasdaq: DELL) warned that while business is expected to improve next year, margins will continue to be pressured.
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by a margin of 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a point to 495.