On the upside
Shares of Territorial Bancorp (Nasdaq: TBNK) surged on its first day of trading.
Analysts expect solid earnings from banks. Shares of Fifth Third Bancorp (Nasdaq: FITB) and J.P. Morgan (NYSE: JPM) climbed.
Fidelity increased its stake in Starbucks (Nasdaq: SBUX) from 4.1% to over 10%.
On the downside
American Axle & Manufacturing (NYSE: AXL) is exploring restructuring options.
Dell (Nasdaq: DELL) warned of a slight drop in gross margins for the second quarter.
Sinclair Broadcast (Nasdaq: SBGI) met with note holders in order to restructure debt.
In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 12 points to 493.
