On the upside
Ariad Pharmaceuticals (Nasdaq: ARIA) reported positive mid-stage test results for its breast cancer drug ridaforolimus.
Sprint Nextel (NYSE: S) announced that it will acquire Virgin Mobile (NYSE: VM) for approximately $483 million.
AVI BioPharma (Nasdaq: AVII) and Action Duchenne teamed to support continued development of AVI's Duchenne Muscular Dystrophy treatment.
On the downside
Anixter (NYSE: AXE) disappointed by swinging to a second quarter loss as revenue fell to miss estimates.
Second quarter earnings for Paccar (Nasdaq: PCAR) plummeted as revenue slumped amidst the economic downturn.
Manitowoc (NYSE: MTW) blamed charges for swinging to a second quarter loss.
In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 3 points to 547.
