On the upside
Tianwei New Energy Holdings will receive a majority stake in Hoku Scientific (Nasdaq: HOKU) for financing a polysilicon production facility.
AT&T (NYSE: T) will sell TerreStar's (Nasdaq: TSTR) satellite smart phone.
Ameriprise Financial (NYSE: AMP) will acquire Bank of America's (NYSE: BAC) Columbia Management for approximately $1 billion.
On the downside
Noble Financial downgraded Frontier Financial (Nasdaq: FTBK).
Worthington Industries (NYSE: WOR) reported sharply lower first quarter earnings.
Colonial Properties Trust (NYSE: CLP) will offer 9 million shares of common stock.
In the broad market, declining issues outpaced advancers by a margin of more than 3 to 1 on both the NYSE and Nasdaq. The Russell 2000 which tracks small cap stocks fell 8 points to 602.
