On the upside
Chelsea Therapeutics (Nasdaq: CHTP) reported that its neurological disorder treatment Droxidopa demonstrated significant improvement in patients.
Shares of Talecris Biotherapeutics (Nasdaq: TLCR) climbed on its first day of trading.
Colonial Properties Trust (NYSE: CLP) priced its public offering of approximately 10.5 million common shares at $9.50 per share.
On the downside
United Airlines parent UAL (Nasdaq: UAUA) will offer 19 million common shares and $175 million in senior convertible notes.
Credit Suisse analyst John P. McNulty downgraded Rockwood Holdings (NYSE: ROC) after a competitor cut prices.
Shares of Hovnanian (NYSE: HOV) tumbled despite a surge in August pending home sales.
In the broad market, declining issues outpaced advancers by a margin of nearly 4 to 1 on the NYSE and by 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 14 points to 590.
