On the upside
China GrenTech (Nasdaq: GRRF) reversed year ago losses to post a profit for the second quarter as revenue surged.
Private equity firm Clayton, Dubilier & Rice will invest $250 million in NCI Building Systems (NYSE: NCS).
Robert W. Baird analyst Whit Mayo upgraded Tenet Healthcare (NYSE: THC) saying that the company will surpass expectations.
On the downside
Credit Suisse downgraded Barnes & Noble (NYSE: BKS).
Moody's Investor Service cited Liz Claiborne's (NYSE: LIZ) disappointing second quarter results as well as its lowered guidance for downgrading the apparel company's credit rating.
Darling International (NYSE: DAR) reported that earnings for the second quarter plunged by more than half.
In the broad market, declining issues outpaced advancers by a margin of more than 7 to 2 on the NYSE and by nearly 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 14 points to 560.