Despite the shaky start, all the major U.S. averages extended the rally off Tuesday's lows but only the NAZ was able to establish new recovery highs off the mid-month lows. The advance stalled out in midday ahead of the Fed Chair and key economic data tomorrow with a choppy drift lower into the close leaving just a minor gain to end the session.
Companies moving in after hours trading in reaction to earnings: Trading Up: PRLS +29.6%; OTEX +14.3%; OVTI +11.0%; ESL +3.3%; CATS +2.9%; BNHNA +1.6%; SEAC +1.0%; DELL +0.74%... Trading Down: CPWM -5.0%; CMOS -4.4%; WIND -4.1%... Companies moving in reaction to news: Trading Up: YMI +13.5% (cleared by US FDA to initiate Phase II clinical trial of nimotuzumab in children with inoperable, recurrent brain cancer); ITT +7.1% (FAA awards first portion of air traffic control contract -- WSJ); STST +1.1% (announces stock repurchase program up to a total of 2,000,000 shares of its common stock); GOT +0.80% (announces conclusion of strategic alternatives review process; conclusion is to focus on a revised business plan)... Trading Down: AEIS -4.8% (lowers Q3 guidance to $88-92 mln vs $99.14 mln Reuters consensus); CBK -4.6% (announces appointment of Lorna Nagler as Chief Executive Officer); LEND -1.1% (Lone Star delivers letter to Accredited's board of directors proposing to amend tender offer); OVEN -0.80% (provides update on filings and continued listing; has recently added additional investigative and analytical tasks).
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