On the upside
Fannie Mae (NYSE: FNM) will sell $3 billion of three-month and six-month benchmark bills through a Dutch auction on Wednesday.
Two investment groups exercised the terms of their loan and took control of SemGroup Energy Partners (Nasdaq: SGLP).
Timken (NYSE: TKR) raised its second quarter as well as its full year outlook above analyst expectations.
On the downside
Charlotte Russe (Nasdaq: CHIC) disappointed with lower third quarter earnings that fell short of estimates as same store sales dropped prompting a downgrade.Merck & Co. (NYSE: MRK) and Schering-Plough (NYSE: SGP) will report updated data from their aortic stenosis treatment Vytorin this afternoon and delayed the release of their second quarter earnings until after market close.
On Friday, Moody's Investors Service downgraded the ratings of iStar Financial (Nasdaq: SFI) due to increased loan loss provisions.
In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on the NYSE and by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks added a fraction to 694.
