On the upside
Wachovia analyst Justin B. Yagerman upgraded Eagle Bulk Shipping (Nasdaq: EGLE) saying that the stock price has fallen too much too quickly.
Citigroup downgraded Marshall & Ilsley (NYSE: MI) while Moody's Investors Service cut the bank's senior debt rating but the stock price rose as bargain hunters snapped up shares of the regional bank, whose stock price has fallen.
Exar (Nasdaq: EXAR) will acquire (Nasdaq: HIFN) in a deal valued at approximately $58.9 million.
On the downside
Silver Standard Resources (Nasdaq: SSRI) will sell 5.45 million shares of common stock at $17.00 per share.
Heartland Payment Systems (NYSE: HPY) reported higher fourth quarter earnings and revenue but the results fell short of estimates and the company slashed its quarterly dividend.
Analysts downgraded MAP Pharmaceuticals (Nasdaq: MAPP) after the company's asthma treatment for children failed a late stage clinical trial.
In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 1 on the NYSE and by nearly 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks leaped 18 points to 412.
