On the upside
Data storage provider Xyratex (Nasdaq: XRTX) posted lower revenues and flat profits, but the results were better than expected.
An analyst upgraded Alcoa (NYSE: AA) due to rising commodity prices.
On the downside
Cisco Systems (Nasdaq: CSCO) offered about $3 billion to acquire Tandberg ASA, a Norway-based maker of hardware for video conferences.
Satellite Internet service provider ViaSat (Nasdaq: VSAT) offered $568 million in cash and stock to buy WildBlue, a satellite equipment maker.
Charles River Associates (Nasdaq: CRAI) posted 3rd quarter revenues and profits that missed estimates. The company provides management consulting services.
Penske Automotive (NYSE: PAG) called off a deal to acquire the Saturn line of cars from General Motors after not being able to secure a long-term manufacturer for its production.
In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 1 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 8 points to 595.
